KlaymanToskes Seeks Recovery for Losses in GWG L Bonds and Other Alternatives
GWG Holdings, Inc. (OTCMKTS:GWGHQ)
BELVEDERE, CA, US, August 30, 2022 /EINPresswire.com/ — National securities fraud lawyers KlaymanToskes (“KT”) announces their representation of a retired world-renowned surgeon in their latest action against Emerson Equity LLC. The FINRA arbitration claim (Case No. 22-01931) alleges that Emerson recommended high-risk, alternative investments including GWG Holdings, Inc. (OTCMKTS: GWGHQ) L Bonds and GPB Holdings to the conservative retiree.
During the investor’s career as a transplant surgeon, he developed a solution used throughout the world to preserve human organs for transplantation. Following his retirement, the investor placed his trust in Emerson Equity to provide income for him and his wife in the years to come. At first, Emerson and its broker recommended corporate and municipal bonds. Over time, however, Emerson began recommending alternative investments despite the investor’s interest in conservative, low-risk, incoming producing investments.
The alternative investments included GWG L Bonds. The L Bonds are a highly speculative, illiquid private placement. In addition to the GWG L Bonds, Emerson also recommended additional alternative investments to the investor, including GPB Holdings. Both investment recommendations were unsuitable and contributed to the investor’s losses.
According to securities attorney Lawrence L. Klayman, Esq., “Emerson Equity was uniquely positioned as the managing broker-dealer for GWG’s L Bonds. The firm had a duty to identify and monitor the multiple red flags associated with GWG’s L Bonds over the past several years. Emerson Equity failed to conduct proper due diligence, directly causing substantial harm to our client. Accordingly, the firm is liable in a FINRA arbitration claim.”
The sole purpose of this release is to investigate on behalf of our clients who purchased alternative investments through full-service brokerage firms, including Emerson Equity. Former and current customers of Emerson Equity with losses in excess of $75,000 are encouraged to contact Lawrence L. Klayman, Esq. at 1 (888) 997-9956 or lklayman@klaymantoskes.com.
About Us
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 $245 million for investors 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 Klayman
KlaymanToskes, P.A.
+ +1 888-997-9956
lklayman@klaymantoskes.com