Securitiesfraudattorneys.com
GWG, a financial services company, created L Bonds, financial instruments that pooled the money of investors to buy life insurance policies on the secondary market. Investors believed that they would profit off of the policies once policyholders had died. But GWG has now filed bankruptcy and said it owes $1.6 billion in the L Bonds.
An estimated 27,000 investors invested with GWG—for an average of $45,000 each. However, some investors lost substantially more and some brokers overconcentrated their clients in the bonds.
Securitiesfraudattorneys.com is investigating both GWG and the broker-dealers who sold investors the L Bonds. The law firm is researching whether GWG or the selling brokers violated any securities laws.
The firm is also investigating the broker-dealers responsible for selling L Bonds to investors without disclosing the material risks. The firm would like to hear from any investors who purchased L Bonds. The firm is looking for the information broker-dealers provided investors (e.g., sales presentations or account statements). And the attorneys are particularly interested in any broker representations that L Bonds should be considered a safe (or conservative) investment.
Silver Law may initiate arbitration claims against the brokers, as well as begin proceedings against the broker-dealers with the Financial Industry Regulatory Authority (FINRA), the government-authorized not-for-profit organization that oversees U.S. broker-dealers.
If you have lost money due to an investment with GWG Holdings, don’t wait: Call Silver Law Group. We are an experienced law firm that specializes in investment fraud litigation—to help clients like you get the recovery you deserve. For a free, confidential consultation, send us an email or call us today at (800) 975-4345.