Life Settlement Co. Can't Stop Texas From Suing Competitor

Law360, Houston (August 02, 2013, 8:56 PM ET) -- A Texas appeals court said Thursday that a life settlement broker could not challenge a state enforcement action to impose securities regulations on a competing company, because the outcome of the underlying case would not generally apply to the viatical settlement industry.

The Third District Court of Appeals ruled that Trinity Settlement Services LLC could not sue the Texas State Securities Board over its decision to launch a suit accusing Retirement Value LLC of selling unregistered securities, reasoning that the agency was not engaged in rulemaking...
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