Life Partners Cleared Of Insider Trading In Mixed Verdict

Law360, New York (February 4, 2014, 6:47 PM EST) -- A Texas federal jury returned a mixed verdict Monday in a U.S. Securities and Exchange Commission lawsuit accusing Life Partners Holdings Inc. and two of its top executives of artificially inflating stock prices, finding they committed revenue recognition fraud and violated accounting laws, but clearing them of insider trading and securities fraud offenses.

After deliberating over parts of three days, the panel exonerated the company, CEO Brian Pardo and general counsel and Secretary R. Scott Peden of eight of the 11 counts the SEC alleged they...
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