Silver Law Group Represents Investors With Losses In GWG L Bonds

Did you lose money investing in GWG Holdings Inc. L Bonds? Our securities and investment fraud attorneys are representing investors on a contingency fee basis to help recover our clients losses. Read more about our experience handling these types of cases at securitiesfraudattorneys.com. Scott Silver, Esq, is the chairman of the securities fraud group of the American Association of Justice and a frequent author and speaker on investment fraud matters.

Silver Law Group is representing investors in claims against the broker-dealers who sold GWG L Bonds to investors. Claims to recover investment losses allege that the broker-dealers failed to conduct adequate due diligence on the investment, among other causes. Our securities fraud attorneys have already filed multiple FINRA arbitration claims.

If you’re an investor who believed that the L bonds would be a benefit to your portfolio, you’re not alone. Unfortunately, the highly touted L bonds Were neither publicly traded nor liquid, and highly risky.

First, the SEC launched an investigation into Dallas, TX-based GWG Holdings in 2020. Then the company’s accountant Whitley Penn departed, leaving them unable to file their annual reports.  For this reason, NASDAQ threatened to de-list the company.

GWG Holdings then ceased selling their L Bonds in April of 2021. When the company Filed for bankruptcy, it left a big question mark for hundreds of investors.

Silver Law Group Represents Investors in Claims Against GWG

Along with co-counsel, Silver Law Group has also filed a class-action lawsuit against GWG Holdings over their L bonds. The two defendants, who live in California, collectively invested $85,000 in GWG’s L Bonds on May 1, 2021.

The suit details the activities that led to the eventual collapse of the L Bond scheme, culminating in three charges of violations of the Securities Act by GWG. The Complaint describes the allegations from the incorporation of GWG in 2006 through the 2020 SEC investigation and the events that led to the company’s bankruptcy earlier this year. The Complaint is only allegations at this time and GWG will have the opportunity to respond to the allegations.

Recovering GWG Holdings Losses Through FINRA Arbitration

Broker-dealers are supposed to recommend only suitable investments to their clients and perform due diligence on the products they sell. FINRA-registered brokers and firms are subject to arbitration to resolve disputes.

Silver Law Group represents investors who have been the victims of investment fraud. Scott Silver is the chairman of the Securities and Financial Fraud Group of the American Association of Justice and represents investors nationwide in securities and investment fraud cases. Please contact Scott Silver of Silver Law Group for a no-cost consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.