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NEW YORK, April 22, 2022 (GLOBE NEWSWIRE) — National investment fraud lawyers KlaymanToskes continues to investigate FINRA arbitration claims on behalf of GWG Holdings’ (NASDAQ: GWGH) L bonds investors in light of the Company’s ongoing Chapter 11 bankruptcy.
GWG’s bankruptcy follows the Company’s issues resulting from its merger with Beneficient Co. Group LP (“Beneficient”), which is a financial services firm that provides loans to people who own alternative, illiquid assets such as privately held companies, stakes in private-equity or venture-capital funds, real estate or other financial holdings. After GWG acquired a majority stake in Beneficient in 2018, GWG reportedly stopped purchasing life-insurance policies and instead sold L Bonds backed by ownership units in Beneficient, which then used the proceeds to invest in alternative assets in a range of industries, such as software, semiconductors, healthcare and telecom.
According to securities attorney Lawrence L. Klayman, Esq., “GWG’s bankruptcy follows a clear pattern of red flags over the years, including the Company’s issues stemming from its relationship with Beneficient. A brokerage firm’s failure to conduct reasonable due diligence into GWG’s L Bonds results in liability, and is a basis for a FINRA arbitration claim.”
The sole purpose of this release is to investigate FINRA arbitration claims on behalf of GWG Holdings’ L bonds investors. Investors with losses in excess of $100,000 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.
About Us
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/gwg-bankruptcy-l-bonds-investment-loss/
Contacts
KlaymanToskes
Lawrence L. Klayman, Esq.
1-888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com