Life Partners Investor Fails To Usurp Lead Plaintiff

Law360, New York (August 15, 2011, 1:40 PM EDT) -- A shareholder in Life Partners Holdings Inc. on Friday lost his bid to unseat the lead plaintiff in a consolidated class action in Texas federal court claiming the company duped investors into buying securities using faulty life expectancy data.

U.S. District Judge Alia Moses said that even though Warren Whitmore allegedly lost more money than lead plaintiff Stewart Scothorn — Whitmore says he lost more than $530,000, Scothorn about $71,000 — that does not mean she can ignore that Whitmore filed his lead plaintiff motion far...
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