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LOS ANGELES, May 19, 2022 (GLOBE NEWSWIRE) — National investment fraud lawyers KlaymanToskes announces today that it filed a securities arbitration claim against Emerson Equity and its Los Angeles-based broker Tony Barouti concerning GWG Holdings’ L Bonds.
According to the claim, Tony Barouti recommended that a California retiree invest in an unsuitable, highly speculative, illiquid private placement known as an “L Bond” issued by the Dallas-based financial services firm, GWG Holdings. Barouti’s customer invested in GWG’s L Bonds after hearing the broker’s advertisements on a local radio station in Los Angeles. Since the Claimant’s initial investment in June 2020, GWG stopped paying interest and principal payments, and the Company is currently navigating Chapter 11 bankruptcy and a SEC investigation.
According to securities attorney Lawrence L. Klayman, Esq., “As the managing broker-dealer for GWG’s L Bonds, Emerson Equity was uniquely positioned to identify and monitor the multiple red flags associated with GWG’s L Bonds over the past several years. Unfortunately, Emerson Equity failed in its due diligence obligations, which directly caused substantial harm to our client, and the firm is liable in a FINRA arbitration claim.”
The sole purpose of this release is to investigate on behalf of our client who purchased GWG L Bonds through Emerson Equity and Tony Barouti. Former and current customers of Emerson Equity and broker Tony Barouti with losses in excess of $75,000, and those who have information relating to the manner in which their accounts were handled, are encouraged to contact Lawrence L. Klayman, Esq. at 1 (888) 997-9956.
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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. The firm has recovered more than $230 million for investors in FINRA arbitrations. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico
Destination: https://klaymantoskes.com/tony-barouti-gwg-l-bond-investment-loss-claim/
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Lawrence L. Klayman, Esq.
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lklayman@klaymantoskes.com
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