Did Your Emerson Equity Broker Sell You GWG L Bonds?
If Emerson Equity sold you an L Bond from GWG Holdings, Silver Law Group may be able to help you recover your investment losses.
Silver Law Group currently represents GWG L Bonds investors. Please contact us at 800-975-4345 for a no-cost, confidential consultation.
Emerson Equity works with GWG to sell L Bonds to the investors. Some investors have already retained counsel to pursue FINRA arbitration claims against their financial advisor, alleging that reasonable due diligence was not conducted into the product or that the bonds were unsuitable for them.
Silver Law Group has spoken to investors who claim their Emerson Equity advisor told them that GWG L Bonds were a safe and secure source of income. In reality, L Bonds involve considerable risk and speculation. They are also illiquid, meaning investors aren’t able to convert them to cash easily.
GWG L Bonds
L Bonds are bonds from a life insurance company that buys back the policy from the policyholder to finance the policy. L Bonds can offer higher than average returns for investors, making them attractive to investors. GWG Holdings sold billions of dollars of L Bonds in recent years, and relied on them to provide liquidity.
Investors who hold GWG L Bonds have grown increasingly concerned after GWG Holdings filed an 8-K with the SEC stating that they would not make dividend payments on L Bonds for January, 2022, and that the company’s board approved management to retain a restructuring advisor.
GWG Holdings (GWGH), a Texas-based financial services company that offers life insurance and alternative investments, has seen its stock price drop significantly. GWG has confirmed that the SEC is investigating the company. In 2021, GWG missed financial reporting deadlines, and NASDAQ threatened to delist the company. GWG stock has traded as low as $3.75 in recent days reflecting a sharp drop in price of GWG’s publicly traded stock price.
About Emerson Equity
Emerson Equity LLC is a San Mateo, CA-based brokerage and investment adviser firm that has been registered with FINRA and the SEC since 2004.
The firm has 1 disclosure on its publicly-available FINRA BrokerCheck report, in December, 2021, regarding allegations that “that they failed to establish, maintain and enforce a supervisory system, including written procedures, reasonably designed to achieve compliance with FINRA’s suitability rule as it pertains to short-term trading of mutual fund class a and class b shares, and further failed to reasonably supervise short-term mutual fund trading activity by one of the firm’s registered representatives.”
The firm was censured, fined $60,000, and ordered to pay $1,641,929 in restitution to customers.
Contact Silver Law Group If You Have Losses With GWG L Bonds
If you invested in L Bonds from GWG Holdings from Emerson Equity or other broker-dealers, contact Silver Law Group for a no-cost, confidential consultation at (800) 975-4345 or by email at firstname.lastname@example.org.
Silver Law Group is a nationally-recognized law firm with experience representing investors in securities arbitration and investment fraud cases. Scott Silver, Silver Law Group’s managing partner, is the chairman of the Securities and Financial Fraud Group of the American Association of Justice. Our attorneys are admitted to practice in New York and Florida and represent investors nationwide. Most cases are handled on a contingency fee basis, so nothing is owed unless we recover your money for you.