Investors Sue Viatical Broker Over Poor Predictions

Law360, New York (November 4, 2011, 4:18 PM EDT) -- A group of investors on Thursday hit Life Partners Inc. with a suit in Nevada alleging the viatical settlement broker underestimates life insurance policyholders' life expectancies and exaggerates the rate of return on investment.

Life Partners compounds its fraud by sometimes failing to tell potential investors that if the policyholders live more than a year longer than expected, they must help pay the policyholders' premiums, according to a complaint lodged in federal court by 70-plus investors against the company and its subsidiary Life Partners Holdings Inc....
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Case Information

Case Title

Austin et al v. Life Partners Inc., et al


Case Number

2:11-cv-01767

Court

Nevada

Nature of Suit

Contract: Other

Judge

Philip M. Pro

Date Filed

November 3, 2011

Companies

UK Financial Services

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