Life Partners Holdings, Inc. (the "Company")(Nasdaq GS: LPHI) announced today that on February 23, 2015, the Company received a letter from the Nasdaq Listing Qualifications staff notifying it of an Additional Staff Determination relating to the delisting proceedings previously disclosed in a Form 8-K filed with the Securities and Exchange Commission on January 26, 2015. After reviewing the Company's public filings and such other information as is publicly available, in accordance with Listing Rules 5101 and IM-5101-1, Nasdaq determined that the following public interest concerns constitute an additional basis to delist the Company's securities from The Nasdaq Stock Market. These concerns are based on the following factors relating to the district court order in the action styled Securities and Exchange Commission v. Life Partners Holdings, Inc., Brian Pardo and R. Scott Peden:
- The jury findings that the Company's executive officers participated in filing false and misleading financial statement with the SEC; and
- The history of egregious misconduct by the Company's executive officers.