NEW YORK, NY, UNITED STATES, September 13, 2024 /EINPresswire.com/ — National investment loss and securities attorneys KlaymanToskes continues investigating Emerson Equity on behalf of its clients, after the brokerage firm’s recommendations of GWG L Bond investments caused a group of investors to suffer $500,000 in damages. The law firm urges all customers of Emerson Equity who suffered losses in GWG L Bonds to contact the firm immediately at 888-997-9956.
KlaymanToskes reports the firm has filed a FINRA arbitration claim (no. 24-01843) against Emerson Equity on the behalf of a group of investors who are seeking to recover damages of $500,000, in connection with being recommended to invest in unsuitable and illiquid GWG L Bond investments.
According to the lawsuit filed by KlaymanToskes, the group of clients invested in the L Bonds based on the material representation made by Emerson Equity that the GWG L Bonds would provide monthly income and the return of their principal at maturity. The customers had never invested in an alternative investment prior to purchasing the GWG L Bonds.
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.
Further, Emerson Equity and its financial advisors had a conflict of interest in the sale of the L Bonds, as the firm and its representatives received commissions ranging from 0.75% to 5.00% of the principal amount of L Bonds sold, depending on the L Bonds’ maturity date, as well as other forms of compensation.
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.
Current and former customers of Emerson Equity who suffered investment losses in GWG L Bonds 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