Life Partners (LPHI) Shares Drop as Trader Take Profits on Texas Court Ruling
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Life Partners Holdings (Nasdaq: LPHI) shares are showing flat volatility as traders take some profit from a 150 percent move higher Wednesday.
Shares are down 14.5 percent with implied volatility down about 0.5 points from Wednesday's close.
On Wednesday, Life Partners said 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.
Shares are down 14.5 percent with implied volatility down about 0.5 points from Wednesday's close.
On Wednesday, Life Partners said 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.
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