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Nasdaq to Life Partners: File On Time

By Michael K. Stanley

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Life Partner Holdings Inc., announced on Oct 19th the receipt of a letter from Nasdaq outlining non-compliance with Nasdaq’s listing rules. Life Partner Holdings, Inc., (LPHI) failed to file its Form 10-Q for the fiscal quarter August 31 2011. The company also remains delinquent in its filing for Form 10-K for the year ended February 28, 2011 and Form 10-Q for the period ended May 31, 2010.

Life Partners Inc., Waco, Texas, (Nasdaq GS: LPHI) a life settlement company with a worldwide base of both individual and institutional investors was informed that they did not meet the criteria of Listing Rule 5250 (c)(1) also known as the “Rule” which requires that companies file all required periodic reports and documents with the Securities and Exchange Commission (SEC) in a timely fashion.

On August 12, 2011, LPHI announced that Nasdaq had agreed to a plan put forth by the company to return to compliance with the rule. Nasdaq has given LPHI until November 28, 2011 to file all delinquent forms and regain compliance. Until that time, LPHI stock will continue to be listed on the Nasdaq Global Select Market. 

Life Partner Holdings failed to return repeated calls for comment.