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17.03.2011 01:01:07

Hagens Berman Reminds LPHI Investors Only 19 Days Left to File for Lead Plaintiff in Securities Fraud Lawsuit

Hagens Berman Sobol Shapiro LLP reminds investors who purchased significant quantities of NASDAQ: LPHI stock that they have only 19 days to file a motion to serve as lead plaintiff in a class-action lawsuit against Life Partners Holdings, Inc. The lawsuit, filed in the U.S. District Court in Texas, alleges that Life Partners Holdings conducted deceptive business practices that may have misled its investors.

Investors who purchased more than $100,000 worth of LPHI stock between May 29, 2007 and January 20, 2011 (the "Class Period”) are encouraged to call Hagens Berman partner Reed R. Kathrein at 510-725-3000 before April 4, 2011 for a personal consultation. Investors can also contact the Hagens Berman legal team through e-mail at LPHI@hbsslaw.com.

"We are gratified by the progress made in our investigation, and we intend to hold Life Partners Holdings responsible for apparent dubious sales and marketing practices that decreased the company’s stock value by more than 35 percent in only three months,” said Mr. Kathrein.

Mr. Kathrein also encouraged investors who purchased large quantities of LPHI stock and wish to serve as lead plaintiff to carefully consider the qualifications of the counsel they choose to represent them.

Life Partners Holdings, headquartered in Waco, Texas, is engaged in the secondary market for life insurance, commonly called "life settlements.” Life Partners Holdings helps investors buy the life insurance policies of terminally ill patients and the elderly at a discount of the policies' face value.

Shares of LPHI dipped by $2.61, or about 17 percent, to $12.43 after Life Partners Holdings confirmed an SEC investigation and The Wall Street Journal article. Today the stock trades for less than $6.71 per share. In December 2010, and prior to news articles from The Wall Street Journal, the LPHI stock traded as high as $18.34.

More details of the investigation can be found at http://www.hbsslaw.com/LPHI.

About Investor Fraud Practice

Hagens Berman is a nationally recognized investor-rights law firm that provides highly acclaimed fraud recovery and asset protection services to individual and institutional investors who have been negatively affected by poor corporate governance, breach of fiduciary duties, misrepresentation of information, or a failure of good faith, fair dealing or loyalty. We have successfully prosecuted hundreds of cases including the recent class-action lawsuit against Charles Schwab & Co, which resulted in a $235 million settlement on behalf of investors. For an in-depth discussion of securities fraud, corporate governance and investor rights, please visit our Meaningful Disclosure blog.

About Hagens Berman

Seattle-based Hagens Berman Sobol Shapiro LLP is one of the top class-action law firms in the nation with offices in Boston, Chicago, Colorado Springs, Los Angeles, Minneapolis, New York, Phoenix, San Francisco and Washington, D.C. Founded in 1993, we represent plaintiffs in class actions and multi-state, large-scale litigation that seek to protect the rights of investors, consumers, workers and whistleblowers. More information about the firm is available at www.hbsslaw.com.

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