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DALLAS, April 08, 2022 (GLOBE NEWSWIRE) — National investment fraud lawyers KlaymanToskes continues to investigate the sales practices of full-service brokerage firms, including Emerson Equity, LLC, relating to GWG Holdings, Inc.’s (NASDAQ: GWGH) (“GWG”) L Bonds in light of the Wall Street Journal’s reporting that GWG is preparing to file for bankruptcy.
According to securities attorney Lawrence L. Klayman, Esq., “Brokerage firms such as Emerson Equity have a duty to perform appropriate due diligence to ensure that they understand the nature of products such as GWG’s L Bonds. The failure to conduct a reasonable investigation into a product may result in liability, and can be a basis for a FINRA arbitration claim.”
GWG Holdings is reportedly planning to file for Chapter 11 bankruptcy amidst recent defaults on interest and principal payments, the Company’s disclosure about its inability to file an Annual Report on Form 10-K within the prescribed time-period, and an ongoing SEC investigation. Brokerage firms such as Emerson Equity sold GWG L bonds to individual investors, many of whom are elderly or retired individuals.
The sole purpose of this release is to investigate the sales practices of Emerson Equity and other full-service brokerage firm relating to GWG’s L bonds. Investors with losses in excess of $250,000 in GWG’s L Bonds, and those who have information relating to the handling of their accounts at full-service brokerage firms regarding GWG’s L bonds, are encouraged to contact Lawrence L. Klayman, Esq. at 1-888-997-9956, and download our Special Investor Report.
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KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. KlaymanToskes has recovered more than $230 million for investors in FINRA arbitrations. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
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Lawrence L. Klayman, Esq.
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