Articles Posted in GWG Holdings

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New York securities arbitration law firm Iorio Altamirano LLP is investigating potential securities arbitration claims against Emerson Equity LLC and its network of broker-dealers for their sale of L Bonds issued by GWG Holdings, Inc. (Nasdaq: GWGH).

On January 15, 2022, GWG Holdings Inc., a company known for selling life-insurance bonds, missed interest and principal payments to L bond investors. The company is also reportedly seeking rescue financing in an effort to avoid bankruptcy after facing a series of accounting issues, financial stress, and an SEC investigation.

GWG’s L Bonds are speculative, high-risk, and illiquid securities that were sold as private placement offerings.

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**Update:  April 20, 2022** GWG Holdings, Inc. has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of Texas.  As a result of the bankruptcy filing, all accrued principal and interest payment obligations owed to GWG L Bond investors have been halted as the case proceeds through bankruptcy court.  Chapter 11 Bankruptcy cases can take anywhere from 17 months to five years for larger and more complex cases.  Despite the unwelcomed news, investors are not without recourse and are encouraged to contact New York securities arbitration law firm Iorio Altamirano LLP to review their legal rights. 

*Update: April 4, 2022**  According to the Wall Street Journal, GWG Holdings, Inc. is preparing to file for Chapter 11 bankruptcy in the coming days.  The news of GWG’s impending bankruptcy filing is troubling for retail investors who invested significant portions of their life savings into GWG L Bonds. Investment News has reported that one anonymous GWG L bond investor estimates that the GWG L Bonds would be worth 20 to 30 cents on the dollar if GWG files for bankruptcy.

**Update:  April 1, 2022**  GWG Holdings, Inc. was unable to timely file its 2021 annual report with the United States Securities and Exchange Commission (“SEC”). GWG Holdings, Inc. has now failed to timely file annual reports with the SEC in three of the past four years. To read more, visit our latest blog post:  GWG Holdings, Inc. Misses Deadline to File Its 2021 Annual Report with the SEC

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Iorio Altamirano LLP is investigating potential claims involving investments in L Bonds offered by GWG Holdings (Nasdaq: GWGH).

On July 26, 2021, GWG Holdings canceled its Combined 2020/2021 Annual Meeting of Stockholders originally convened and adjourned on May 28, 2021.

Prior to this cancellation, on July 7, 2021, Nasdaq warned GWG Holdings that it risked the potential delisting of its stock over the company’s failure to hold an annual meeting of shareholders and file its most recent Forms 10-K and 10-Q on time.

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**Update:  July 29, 2021**  On July 28, 2021, Iorio Altamirano LLP announced that it is investigating potential claims involving investments in L Bonds offered by GWG Holdings (GWGH).    Customers of Candice Montie can contact Iorio Altamirano LLP for a free and confidential consultation and review of their legal rights.   To read more about Iorio Altamirano LLP’s investigation into GWG “L Bonds,” click on the following link:  Iorio Altamirano LLP Investigates L Bonds offered by GWG Holdings (GWGH)

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Moloney Securities Broker Candice Montie Suspended by FINRA – Fenton, MI

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**Update:  July 29, 2021**  On July 28, 2021, Iorio Altamirano LLP announced that it is investigating potential claims involving investments in L Bonds offered by GWG Holdings (GWGH).   Upon information and belief, former Wells Fargo broker Scott Reed recommended GWG “L Bonds” to customers.  Customers of Scott Reed can contact Iorio Altamirano LLP for a free and confidential consultation and review of their legal rights.   To read more about Iorio Altamirano LLP’s investigation into GWG “L Bonds,” click on the following link:  Iorio Altamirano LLP Investigates L Bonds offered by GWG Holdings (GWGH)

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Update:  Broker Scott Reed, Formerly of Wells Fargo in Scottsdale, Arizona, Appears to Have a History of Recommending High Risk and High Commission Investments to Customers  

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