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Life Partners Holdings (LPHI) Broke Out To A 5-Month High After Court Ruling

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Life Partners Holdings (LPHI: Quote) announced Wednesday morning that Travis County District Judge Stephen Yelenosky ruled that the life settlement transactions that it facilitates are not securities under Texas law.

Life Partners Holdings rose steadily until mid-afternoon Wednesday, before profit taking set in. Shares finished up by 2.20 at $3.66 on the highest volume of the year. The stock surged to a 5 1/2 month high and re-crossed both its 50 and 200-day moving averages.

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by RTT Staff Writer

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