SEC Cover Up Destroys LPHI Shareholders
LPHI Shareholders Lose $480 Million
Today, Life Partners Holdings announced that U.S. Senior Federal Judge James Knowlin
ruled in favor of Life Partners and its officers, Brian Pardo & Scott Peden, that NO FRAUD
WHATSOEVER was committed on any of the bogus allegations alleged by the SEC. The
favorable ruling of the issues relating to revenue recognition (which has given the SEC a
HUGE DEFEAT) gave Life Partners a clean sweep win over the SEC in what amounted to an
important case for the SEC. This is the 2nd time in 23 years Life Partners has taken the SEC
all the way to trial, and embarrassed the SEC with unanimous clean sweeps! There are a lot
of reporters, namely the Wall Street Journal and the Communications Director from the SEC
eating a lot of crow this morning after issuing a misleading headline claiming victory back in
early February knowing the SEC had not presented any evidence on these baseless charges.
Now, a year-long investigation reveals shocking evidence that the SEC covered up the truth related to the real cause of LPHI’s stock plummeting from $30/share to $2/share. This deception cost shareholders an astounding 480 million dollars.
Rather than protect shareholders, the SEC initiated a phony investigation into LPHI which lasted over 3 years and cost the company millions in legal fees and loss of credibility for that length of time.
Brian Pardo and the LPHI Board of Directors had to defend the case all the way to a jury trial because they knew the company was innocent. At trial the SEC did not produce a single piece of evidence to substantiate the bogus charges they fabricated. This fabrication was a diversion from what the SEC knew was the real cause of the shareholder losses. They hid this for more than 3 years until indisputable evidence finally surfaced that proved the shareholder loss was caused by illegal short selling by Options Express, a subsidiary of Charles Schwab, and other major Wall Street firms!
The SEC thought they could drag the investigation out long enough to force LPHI to go out of business. When that did not happen, the SEC was in the precarious position of being forced to go to trial with Brian Pardo, knowing they had no evidence! Their only prayer was that by some miracle they could dupe the jury with complicated lingo and a so-called expert from New Jersey into believing LPHI and Brian Pardo had committed securities fraud by causing the company to understate projected life expectancies of senior policy holders.
A jury of eight hard-working citizens from the Austin, Texas, area saw through the smoke and mirrors of complicated legal drivel the SEC tried to use. Elizabeth Yingling, lead LPHI attorney with Baker McKenzie, presented the case very simply so the jury understood the life
LPHI Shareholders Lose $480 Million
Today, Life Partners Holdings announced that U.S. Senior Federal Judge James Knowlin
ruled in favor of Life Partners and its officers, Brian Pardo & Scott Peden, that NO FRAUD
WHATSOEVER was committed on any of the bogus allegations alleged by the SEC. The
favorable ruling of the issues relating to revenue recognition (which has given the SEC a
HUGE DEFEAT) gave Life Partners a clean sweep win over the SEC in what amounted to an
important case for the SEC. This is the 2nd time in 23 years Life Partners has taken the SEC
all the way to trial, and embarrassed the SEC with unanimous clean sweeps! There are a lot
of reporters, namely the Wall Street Journal and the Communications Director from the SEC
eating a lot of crow this morning after issuing a misleading headline claiming victory back in
early February knowing the SEC had not presented any evidence on these baseless charges.
Now, a year-long investigation reveals shocking evidence that the SEC covered up the truth related to the real cause of LPHI’s stock plummeting from $30/share to $2/share. This deception cost shareholders an astounding 480 million dollars.
Rather than protect shareholders, the SEC initiated a phony investigation into LPHI which lasted over 3 years and cost the company millions in legal fees and loss of credibility for that length of time.
Brian Pardo and the LPHI Board of Directors had to defend the case all the way to a jury trial because they knew the company was innocent. At trial the SEC did not produce a single piece of evidence to substantiate the bogus charges they fabricated. This fabrication was a diversion from what the SEC knew was the real cause of the shareholder losses. They hid this for more than 3 years until indisputable evidence finally surfaced that proved the shareholder loss was caused by illegal short selling by Options Express, a subsidiary of Charles Schwab, and other major Wall Street firms!
The SEC thought they could drag the investigation out long enough to force LPHI to go out of business. When that did not happen, the SEC was in the precarious position of being forced to go to trial with Brian Pardo, knowing they had no evidence! Their only prayer was that by some miracle they could dupe the jury with complicated lingo and a so-called expert from New Jersey into believing LPHI and Brian Pardo had committed securities fraud by causing the company to understate projected life expectancies of senior policy holders.
A jury of eight hard-working citizens from the Austin, Texas, area saw through the smoke and mirrors of complicated legal drivel the SEC tried to use. Elizabeth Yingling, lead LPHI attorney with Baker McKenzie, presented the case very simply so the jury understood the life
