MILWAUKEE, WI, UNITED STATES, October 31, 2024 /EINPresswire.com/ — National investment loss and securities lawyers KlaymanToskes issues an important notice to customers of Emerson Equity, Cabot Lodge Securities, and former broker Jeffrey Noard, after their recommendations to purchase unsuitable GWG L Bond investments caused a group of investors to suffer $3,900,000 in damages. The law firm urges all customers of Jeffrey Noard who suffered investment losses in GWG L Bonds, or any other investments, to contact the firm immediately at 888-997-9956.
KlaymanToskes reports the law firm has filed a FINRA arbitration claim (no. 24-01942) against Emerson Equity and Cabot Lodge Securities, on the behalf of a group of investors who are seeking to recover $3,900,000 in damages, in connection with being recommended to invest in unsuitable and illiquid GWG L Bond investments, in addition to other alternative investments, by their financial advisor Jeffrey Noard (CRD# 1983392).
According to the lawsuit filed by KlaymanToskes, several of the customers were retired and sought safe, low risk, fixed income investments. Financial advisor Jeffrey Noard, while employed by Cabot Lodge Securities and later Emerson Equity, represented that the interest rate of the GWG L Bond investments was guaranteed, and that there was no market risk as the L Bonds did not trade on the stock market. Several of the investors were advised by Noard that they would receive monthly income and that at the maturity of the L Bond, they would receive the return of the principal invested.
KlaymanToskes’ investigation found that Emerson Equity and Cabot Lodge Securities ignored years of red flags clearly evidencing GWG Holdings, Inc.’s financial distress at the time of its unsuitable recommendation. In April 2022, GWG Holdings, Inc. filed for bankruptcy, suspending their monthly dividends and leaving investors without access to their principal.
Financial advisor Jeffrey Noard was employed with Cabot Lodge Securities from June 2013 through May 2020, in Menomonee Falls, WI. In May 2020, Noard joined the employment of Emerson Equity, from May 2020 through December 2023. Noard has seven other customer complaints that involve GWG, three of which are pending, and four which have been settled in favor of the investors.
KlaymanToskes believes bondholders’ ideal option to maximize their recovery of losses is through the filing of a FINRA arbitration claim. The law firm is currently representing many GWG L Bondholders throughout the nation in FINRA arbitration claims against the brokerage firms and financial advisors that recommended the speculative L Bonds.
Former customers of Jeffrey Noard and/or any other financial advisor who suffered investment losses in GWG L Bonds are encouraged to contact attorney Steven D. Toskes, Esq. at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation 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
Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com