Here is one I'm looking into... LPHI...
I'm still digging, but it's worth a look.
The divy is good and due to their legal problems the pps
is WAY down!
If they can get the legal problems resolved the pps should get a huge boost...
and did after they announced their win against Texas...
but then it tanked again
(probubly bagholders bailing)
I'm thinking this might be a good oportunity to get in...
"WACO, Texas, Sep. 26 /BusinessWire/ -- Life Partners Holdings, Inc. (Nasdaq GS: LPHI), parent company of Life Partners, Inc., announced today that Travis County District Judge Stephen Yelenosky ruled that the life settlement transactions that it facilitates are not securities under Texas law. Although subject to appeal, the ruling effectively ends the Texas Attorney General's suit against Life Partners, which had asserted that the 21-year-old company's life settlement transactions were securities under Texas law. In making its ruling, the Court denied all relief sought by Texas Attorney General Greg Abbott which includes an end to a temporary restraining order which will permit Life Partners to pay the $0.10 dividend it had previously declared to shareholders of record as of September 3, 2012. The court made the ruling after a two-day evidentiary hearing."
another article said there would be an appeal...
The backstory there...
"Life Partners Responds to Texas Lawsuit
WACO, Texas, Aug. 16 /BusinessWire/ -- Life Partners Holdings, Inc. (Nasdaq GS: LPHI), parent company of Life Partners, Inc., announced today that the Texas Attorney General, acting for the State Securities Board, filed suit against Life Partners, Life Partners, Inc., its Chairman and President, Brian Pardo, and its General Counsel, Scott Peden. Pardo and Peden are also directors of Life Partners.
The suit seeks a temporary restraining order and appointment of receiver based generally on allegations that Life Partners' life settlements are securities under Texas law and that Life Partners made various misrepresentations in the sale of the life settlements, including misrepresentations about the life expectancies of the insureds.
Life Partners' Chairman, Brian Pardo, responded, "We deny the allegations in the strongest possible terms. First, the Federal D.C. Circuit Court of Appeals and Texas state courts have reviewed our life settlements and ruled that they are not securities. Secondly, we did not misrepresent our life settlements. The life expectancy estimates we provided to purchasers were made by a third party in good faith."
Pardo continued, "The allegation that we are nearing insolvency is spurious. It is speculation drawn from innuendo. The facts are that we currently have more than $10 million in cash on hand, $45 million in assets, and virtually no debt. Our financial ratios are solid, including a better than 5:1 current ratio at the last quarter. Our business has largely stabilized after the blow we suffered with the SEC enforcement action last year. Our net cash used in operating activities was $(1.8) million in the last quarter, $(1.9) million in the quarter preceding, and has averaged $(1.86) million for the last five quarters. Through sales of non-strategic assets in the last quarter, we increased our overall net cash by $1.4 million and realized net income of over $1.0 million. Given our asset base and cash position, our financial losses are manageable and do not threaten our ability to continue as a going concern. The objective facts refute the outlandish and irresponsible financial claims made in the suit."
Life Partners is the world's oldest and one of the most active companies in the United States engaged in the secondary market for life insurance, commonly called "life settlements." Since its incorporation in 1991, Life Partners has completed over 143,000 transactions for its worldwide client base of over 29,000 high net worth individuals and institutions in connection with the purchase of over 6,500 policies totaling approximately $3 billion in face value."
They are also fighting the SEC:
"Life Partners Holdings, Inc. (NASDAQ GS: LPHI) responded today to notice that a lawsuit has been filed against it by the Securities and Exchange Commission. The Company believes the action is without merit and will vigorously defend itself and its officers.
Life Partners’ Chairman, Brian Pardo, stated, “It is very disappointing that the SEC has chosen to pursue litigation over issues that we believe have no merit and financial presentation issues that we do not believe are material. We have always done our best to deliver value to our shareholders and to run an honest and transparent company. We intend to vigorously defend ourselves against these meritless claims.”
The lawsuit targeted Life Partners Holdings, Inc. and certain of its officers, but no claims were filed against the company’s operating subsidiary, Life Partners, Inc., and the action has no effect on any of Life Partners, Inc.’s transactions or clients.
Life Partners is the world’s oldest and one of the most active companies in the United States engaged in the secondary market for life insurance, commonly called “life settlements.” Since its incorporation in 1991, Life Partners has completed over 137,000 transactions for its worldwide client base of over 28,000 high net worth individuals and institutions in connection with the purchase of over 6,400 policies totaling approximately $3 billion in face value."
No resolution of that yet, but I found this...LOL!
"Life Partners Holdings Announces Securities and Exchange Commission Sanctioned for Violation of Federal Rules of Civil Procedure
WACO, Texas, Aug. 20 /BusinessWire/ -- Life Partners Holdings, Inc. (Nasdaq GS: LPHI), announced today that United States District Court for the Western District of Texas on Friday issued an order sanctioning the Securities and Exchange Commission for violating the Federal Rules of Civil Procedure and ordering that federal agency pay Life Partners Holdings $5,000 in attorney's fees.
The order, which was the result of a motion for sanctions filed by Life Partners, finds that the Securities and Exchange Commission violated the Federal Rules of Civil Procedure by taking the deposition of a non-party witness without proper notice to Defendants, without conference with opposing counsel and without asking leave from the Court.
In its seven page order, the Court stated that "administrative agencies are unquestionably bound by the rules when they are parties in civil actions." The Securities and Exchange Commission filed a civil action against Life Partners Holdings, Inc. and certain of its officers in January of this year. The company's wholly owned subsidiary, Life Partners, Inc., was not named in the civil action.
The company has previously stated it believes the action is without merit and will vigorously defend itself and its officers."
