Life Partners Holdings Inc. says it is cooperating with a U.S. Securities and Exchange Commission (SEC) investigation of its Life Partners Inc. operating subsidiary.
Life Partners Holdings (Nasdaq GS:LPHI), Waco, Texas, helps investors buy life insurance policies on the secondary market.
The Wall Street Journal reported in December 2010 that Life Partners Inc. gave some life policy buyers insured life expectancy projections that were much shorter than the actual lifespans.
Life Partners Holdings Chairman Brian Pardo said at the time that the newspaper had misrepresented its operations, and that problems with life expectancy projections had affected the entire life settlement industry.
An SEC representative declined to comment on the Life Partners investigation.
- Trevor Thomas
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