Life Partners, CEO, GC Could Face SEC Action

Law360, New York (May 13, 2011, 6:57 PM EDT) -- Life Partners Holdings Inc. disclosed Friday that U.S. regulators will recommend launching a civil suit against the company and two of its executive officers over the accuracy of the life expectancy data it used to sell securities to investors.

In a filing with the U.S. Securities and Exchange Commission, Life Partners said it received a Wells notice May 9 from the SEC, whose staffers will recommend that the commission file a civil injunctive action against the life settlement company, President and CEO Brian D. Pardo, and...
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