- Life Partners
Life Partners, Inc. is a
life settlementcompany headquartered in Waco, Texas. LPI's parent company, Life Partners Holdings, Inc. is listed on NASDAQGlobal Market under the symbol [http://finance.yahoo.com/q?s=LPHI LPHI] . 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. It is the only publicly traded life settlement provider. Since its incorporation in 1991, Life Partners has generated a total business volume of over $1 billion in face value of policies for its worldwide client base of over 15,000 high net worth individuals and institutions.
At the start of September 2007, two weeks after the announcement of a 5 for 4 stock split, [http://www.lphi.com/InvestorRelations.htm] , LPHI's stock reached a record level of $52 per share.
It tumbled quickly thereafter, though, falling to below $34 by the middle of the month. The holding company's chairman blamed this on short sellers, and implied that an undefined but "substantial" share of this was
naked short selling.
Another possible explanation, though, is that selling, short or otherwise, may have been motivated by problems in the broader viatical industry that received much publicity during this period.
* [http://www.lifepartnersinc.com Life Partners] homepage
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