Judge Won't Pare Claims In SEC Suit Against Life Partners

Law360, Dallas (December 3, 2013, 7:10 PM EST) -- A Texas federal judge on Tuesday denied the U.S. Securities and Exchange Commission bid to find that Life Partners Holdings Inc.’s revenue policies related to the sale of its life settlement investments violate securities laws, saying a jury should decide.

U.S. District Judge James Nowlin said he could not find Life Partners’ revenue recognition policy didn’t comply with generally accepted accounting principles and said there are material fact questions about whether the company and its CEO misstated quarterly filings between 2009 and 2011. The judge also...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.