Life Partners (LPHI) Gets Favorable Ruling in Motion for Sanctions vs. SEC
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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.
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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.
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