LOS ANGELES, CA, UNITED STATES, November 4, 2024 /EINPresswire.com/ — National investment loss and securities lawyers KlaymanToskes issues an important notice to customers of Emerson Equity and former broker William Duffy, after their recommendations to purchase unsuitable GWG L Bond investments caused an investor to suffer $120,000 in damages. The law firm urges all customers of William Duffy 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. 24-02231) against Emerson Equity, on the behalf of an investor who is seeking to recover $120,000 in investment losses, in connection with being recommended to invest in unsuitable and illiquid GWG L Bond investments, by her financial advisor William Duffy (CRD# 6726333).
According to the lawsuit filed by KlaymanToskes, the investor sought low risk, safe investments that would provide for her retirement years, and contacted financial advisor William Duffy and Emerson Equity after hearing an advertisement by Duffy on how to fund your Roth IRA on a real estate podcast. Emerson Equity and Duffy recommended that the client invest in a highly speculative, illiquid private placement known as a GWG L Bond.
KlaymanToskes’ investigation found that Emerson Equity, as the managing broker-dealer for GWG’s offering, ignored a multitude of red flags associated with GWG for several years that rendered the L Bonds as high-risk and speculative. The brokerage firm misrepresented to its customer that the L Bonds would provide monthly income and the return of their principal at maturity. In April 2022, GWG Holdings, Inc. filed for bankruptcy, suspended monthly dividends, and left investors without access to their principal.
William Duffy was employed by Emerson Equity from November 2016 through February 2022, and is no longer licensed as a broker with FINRA. Duffy created Duffy Financial, LLC in 2014, and also did business as WD Wealth Strategies in Lone Tree, Colorado. Duffy was also previously registered with Sharenett Securities from February 2022 to November 2023 and with Innovation Partners from August 2022 to January 2024.
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 William Duffy who suffered losses in GWG L Bonds and/or any other investments are encouraged to contact attorney Steven D. Toskes at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.
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.
Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com