National investment loss lawyers KlaymanToskes continues investigating Emerson Equity on behalf of GWG L Bond investors who suffered investment losses due to unsuitable recommendations to invest in GWG Holdings’ illiquid, high-risk, and speculative L Bonds. The law firm has made substantial recoveries on behalf of GWG investors, following GWG Holdings’ bankruptcy filing in April 2022, and continues to currently represent many GWG L Bond investors throughout the country.
If you suffered losses in GWG L Bonds or other investments at Emerson Equity due to unsuitable investment recommendations, contact securities attorney Steven D. Toskes to discuss your recovery options at (888) 997-9956 or investigations@klaymantoskes.com for a free and confidential consultation. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
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. On April 20, 2022, GWG Holdings, Inc. and its affiliates, GWG Life, LLC and GWG Life USA, LLC, filed Chapter 11 bankruptcy in the Texas Southern Bankruptcy Court. In its bankruptcy petition, GWG Holdings stated that there are between 25,001 and 50,000 creditors, and its liabilities are between $1,000,000,001 and $10,000,000,000.
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 continued to plummet. Most recently, on January 29, 2024, financials were filed with the bankruptcy court by the GWG Wind Down Trustee which confirmed that L bondholders will only receive a small fraction of their investments from the bankruptcy, and also stated that the value of the trust’s interest in Beneficent shares may be “materially less” than reported, lessening potential recoveries even further.
The trustee’s valuation shows GWG’s net assets are approximately $200 million which is only 12% of the $1.6 billion in L Bond investments. KlaymanToskes strongly believes it is in bondholders’ best legal interest to maximize their recovery of losses by filing FINRA arbitration claims against the brokerage firms and financial advisors who sold these illiquid investments.
Financial professionals and their firms have a fiduciary duty to recommend suitable investments that are in their customer’s best interest. Investment firms may be held liable for any losses incurred by their customers in the event of unsuitable investment recommendations, misrepresentations or omissions of material facts, and/or an overconcentration of the customer’s portfolio in one particular investment, class, or market sector, as well as failure to conduct adequate due diligence on investment offerings recommended by the firm.
Several brokerage firms have reportedly sold GWG L bonds to customers, including:
The article linked below contains important information relating to KlaymanToskes’ investigations of GWG L Bonds and Emerson Equity:
If you suffered losses in GWG L Bonds, or any other investments at Emerson Equity, contact securities attorney Steven D. Toskes to discuss your recovery options at (888) 997-9956 or fill out a short contact form for a free and confidential consultation.
KlaymanToskes is a leading national securities fraud law firm that represents the interests of investors throughout the world who have suffered investment losses. The law firm has helped recover over $600 million for investors (exclusive of attorneys fees and costs), and can help you determine if your loss is due to financial advisor misconduct, unsuitable investment advice, and/or other securities violations. KlaymanToskes encourages L bondholders to maximize their recovery of losses by filing FINRA arbitration claims against the brokerage firms and financial advisors who sold these illiquid investments.
To recover investment losses, you do not go through the traditional court system with a lawsuit. The only remedy is through a FINRA arbitration, a specific process designed for these types of disputes. This process involves presenting your case to a panel set by the Financial Industry Regulatory Authority (FINRA), not a courtroom. This approach is streamlined and focused on investment disputes, making it a suitable and effective way for investors to seek compensation for losses caused by financial advisors or brokerage firms.
FINRA (the Financial Industry Regulatory Authority) is a self-regulatory organization that oversees brokers and brokerages. In the event of a dispute between an investor and their financial advisor, investors must file a FINRA arbitration claim. FINRA is overseen by the Securities and Exchange Commission (“SEC”).
The arbitration process is designed to be much faster than the court system and allows both parties to present their case before a panel of arbitrators. The arbitrators will then decide how to resolve the dispute, including ordering the advisor to pay damages for any losses suffered by the investor.
If you suffered GWG L Bond or other investment losses, you are encouraged to contact attorney Steven D. Toskes, at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
As an investor, there are signs that you should look out for if you believe you have a claim against your broker/advisor for unsuitable investment recommendations in GWG L Bonds and/or other alternative investments. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you purchased unsuitable GWG L Bond investments, or any other unsuitable investments through your financial advisor/brokerage firm, and suffered significant losses, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.