NEW YORK, NY, USA, November 14, 2023 /EINPresswire.com/ — National investment loss lawyers KlaymanToskes encourages all GWG L Bondholders who suffered investment losses to pursue FINRA arbitration claims to recover their investment losses, by contacting the firm immediately at 888-997-9956.
KlaymanToskes reports that a recent customer complaint filed with the Financial Industry Regulatory Authority (“FINRA”) has resulted in an award of $1 million (Case No. 22-01360) in compensatory damages, plus interest, for losses sustained in GWG L Bonds. Additionally, a second arbitration award (Case No. 22-01908) has recently granted over $280,000 in damages to an investor who’s financial advisor failed to fully inform them of the degree of risk involved in GWG.
GWG L bonds were marketed by many brokerage firms and financial advisors as safe and low-risk investments that were instead illiquid, high-risk, and speculative. In April 2022, GWG Holdings, Inc. filed for bankruptcy, suspending their monthly dividends and leaving investors without access to their principal.
KlaymanToskes previously announced in June 2023 that GWG’s bankruptcy court authorized the sale of GWG Holdings’ primary asset: equity interest in Beneficient (NASDAQ: BENF). However, since opening at $15 on its first day of trading, BENF has plummeted to less than $1. L bondholders are owed over $1.3 billion, however, GWG’s ability to monetize its equity interest in Beneficient remains speculative.
In August 2023, the GWG L Bonds were canceled, and investors were issued “Interests” in the Wind Down Trust, but the value of the Interests and timeline for the bankruptcy’s resolution remain uncertain.
If you purchased GWG L Bonds through any of the following brokerage firms, contact KlaymanToskes immediately to discuss your recovery options:
– Western International Securities
– Centaurus Financial
– Emerson Equity
– Moloney Securities
– Ausdal Financial Partners
– Newbridge Securities
– Coastal Equities
– Center Street Securities
– Arkadios Capital
– Arete Wealth Management
– Capital Investment Group
– Ni Advisors, and
– B.B. Graham & Company.
Investors who suffered significant losses in GWG L Bonds are encouraged to contact KlaymanToskes to discuss recovery options at 888-997-9956, or fill out a short contact form for a free and confidential consultation.
About KlaymanToskes
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 over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
Lawrence L. Klayman, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
lawrence@klaymantoskes.com