LOS ANGELES, April 27, 2022 (GLOBE NEWSWIRE) — National investment fraud lawyers KlaymanToskes advises GWG Holdings, Inc. (NASDAQ: GWGH) L Bondholders to explore their legal options in light of the Texas Bankruptcy Court’s recent order setting a July 2022 claims filing deadline and GWG’s upcoming trading suspension. KlaymanToskes strongly encourages GWG L Bondholders to consider filing a securities arbitration claim with the Financial Industry Regulatory Authority (“FINRA”) as an additional means to recover investment losses.
On April 23, 2022, the Bankruptcy Court in the Southern District of Texas (Case #22-90032) ordered the bar date for filing general proofs of claim as July 29, 2022. The Order coincides with an April 20, 2022 Letter that GWG received from the Listings Qualifications Department of the NASDAQ Stock Market notifying the Company that, as a result of its Chapter 11 bankruptcy filing, the NASDAQ will suspend trading of GWG’s common stock at the open of business on April 29, 2022.
According to securities attorney Lawrence L. Klayman, Esq., “Brokerage firms that sold GWG L Bonds to its retired and elderly customers had a duty to conduct initial and ongoing due diligence for this investment product. A firm’s failure to appropriately investigate GWG L Bonds results in liability, and is a basis in a FINRA arbitration claim.”
The sole purpose of this release is to investigate FINRA arbitration claims on behalf of GWG Holdings L bondholders. 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.
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
Lawrence L. Klayman, Esq.