LOS ANGELES, CA, UNITED STATES, September 5, 2024 /EINPresswire.com/ — National investment loss and securities attorneys KlaymanToskes continues investigating Western International Securities on behalf of its clients, after the brokerage firm’s recommendations of GWG L Bonds, NY REIT, and other alternative investments caused a group of investors to suffer over $100,000 in damages. The law firm urges all customers of Western International Securities who suffered losses to contact the firm immediately at 888-997-9956.
KlaymanToskes reports the firm has filed a FINRA arbitration claim (no. 24-01838) against Western International Securities on the behalf of a group of investors who are seeking to recover damages in excess of $100,000, in connection with being recommended to invest in unsuitable and illiquid GWG L Bonds, NY REIT, and other alternative investments.
According to the lawsuit filed by KlaymanToskes, the group of clients invested in GWG L Bonds and other alternatives including NY REIT, based on material representations made by Western International Securities that the investments were safe fixed income investments that would provide monthly income and the return of the principal invested at maturity. The customers had never previously invested in any alternative investments.
In June 2022, the Securities and Exchange Commission charged Western International Securities and five of its registered financial advisors with violations related to the sale of alternative investments such as GWG L Bonds. Most recently, Western International consented to a censure and agreed to pay over $870,000 in fines and restitution to customers, in connection with unsuitable recommendations to its customers to invest in non-traded REITs and ETFs.
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 Western International Securities who suffered investment losses in GWG L Bonds, NY REIT, or any other investments 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.
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