Please Contact National Investment Fraud Law Firm KlaymanToskes
KNOXVILLE, TENNESSEE, USA, June 22, 2022/EINPresswire.com/ — National investment fraud lawyers KlaymanToskes is investigating Financial Industry Regulatory Authority (“FINRA”) arbitration claims on behalf of former and current customers of Morgan Hill in light of the Knoxville-based broker selling unsuitable GWG L Bonds. Hill was formerly registered as a broker with Center Street Securities. He is now registered with Arete Wealth Management, and Hill is the CEO of wealth management firm Hill & Hill Financial, LLC.
Morgan Hill sold illiquid, risky L Bonds issued by GWG Holdings, Inc., which is a Company that filed for Chapter 11 bankruptcy protection (Texas Southern Bankruptcy Court, Case # 4:2022bk90032) in April 2022 after defaulting on L Bond interest and principal payments. GWG Holdings sold $1.6B of L Bonds to customers, and the firm along with its network of broker-dealers have been under SEC investigation in recent months for GWG L Bond sales. One brokerage firm, Western International Securities, is currently subject to a SEC Complaint (Central District of California, Case 2:22-cv-04119) for its GWG L Bonds sales.
According to Lawrence L. Klayman, Esq., “Brokerage firms that sold GWG L Bonds had a duty to recommend only suitable investments to their customers. A brokerage firm’s investment recommendation that is inconsistent with a customer’s investment objectives and risk tolerance results in liability, and is a basis in a FINRA arbitration claim.”
The sole purpose of this release is to investigate the GWG L Bond sales practices of Hill & Hill Financial. Former and current customers of Morgan Hill who purchased GWG L Bonds, and those with information relating to the handling of their accounts, 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 and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered more than $230 million in FINRA arbitrations and over $350 million in other securities litigation matters for its clients. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Lawrence L. Klayman