The Securities Law Firm of Menzer & Hill, P.A. (www.menzerhill.com) announced today that it continues to file arbitration claims against those brokerage firms that sold GWG L Bonds to their clients.
On January 15, 2022, GWG Holdings, Inc. (NASDAQ: GWGH) (“GWG”) failed to make interest payments of more than $10 million and principal payments of more than $3.0 million, relating to its L Bonds to its investors.
On March 31, 2022, was GWG Holdings, Inc. deadline to file its 2021 annual financial statement.
On April 1, 2022, GWG disclosed that it was unable to meet the filing deadline.
GWG has failed to timely file annual reports with the SEC in three of the past four years and it appears upon information and belief that a bankruptcy filing is imminent.
Menzer & Hill has represented hundreds of clients that lost significant lifesavings in non-traded REITs, and many of these same investors, were also sold GWG L Bonds. The fact of the matter is GWG L Bonds, are extremely risky and speculative products that are continually sold to investors, because of the outrageous fees and commissions the broker and broker-dealer receives.”
Fortunately, those investors that purchased L Bonds or non-traded REITs, may be able to recover their losses through the FINRA arbitration process. Under FINRA rules and regulations, broker-dealers are required to conduct proper due-diligence before recommending such investments to their clients. Furthermore, broker-dealers are required to properly disclose all the risks related to such investments, as L Bonds along with non-traded REITs are extremely risky investments to begin with and are unsuitable for most investors.
For a free case evaluation or to discuss any other investment losses, please contact the Securities Law Firm of Menzer & Hill, P.A., at 888-923-9223, or visit us on the web at www.menzerhill.com.
Contact
The Securities Law Firm of Menzer & Hill, P.A.
Gary Menzer – 888-923-9223
info@menzerhill.com
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