Judge Axes Part Of SEC Win Against Life Partners

Law360, Los Angeles (March 12, 2014, 10:12 PM EDT) -- A Texas federal judge on Wednesday reversed a jury's finding that Life Partners Holdings Inc. and two of its executives are liable for fraud in a U.S. Securities and Exchange Commission lawsuit alleging the company artificially inflated stock prices, ruling that there was insufficient evidence presented at trial to support that conclusion.

U.S. District Judge James R. Nowlin granted the defendants' motion for judgment as a matter of law on the SEC's fraud claim under Section 17 of the Securities Act of 1933 but denied the...
To view the full article, register now.