GWG L Bonds are a relatively new financial product that purportedly offers higher yields than typical publicly-traded, fixed-income bonds. These bonds have significant risk and are not like traditional corporate bonds and other conservative investments. Silver Law Group has been retained by investors to pursue securities arbitration claims against brokerage firms who recommended GWG bonds alleging that the brokerage firms due diligence was negligent, material risks were not properly disclosed or materially misrepresented to them or their account was improperly concentrated in GWG bonds and other illiquid alternative investments.
GWG Holdings is a Dallas-based financial services firm that utilized a nationwide network of financial advisors to sell billions of dollars worth of L Bonds over the past several years, and investors are now concerned about the status of these investments and the potential loss of principal since GWG has declared bankruptcy.
In February, 2022, securities arbitration attorneys at Silver Law Group and their co-counsel filed a class action complaint against GWG Holdings to recover improper losses suffered by investors who purchased GWG’s “L Bonds”.
On January 27, 2022, the Wall Street Journal quoted Scott Silver highlighting that “many of our clients are retail investors who bought the bonds after hearing the products were safe and would offer a comfortable income stream for their retirement but that they were shocked to learn that their money was used to pay old investors while the company was under SEC investigation.”
Silver Law Group is continuing to investigate GWG’s sales of L-Bonds to investors nationwide and represents investors on a contingency fee basis.
Investors may have potential claims against the company, the broker-dealers and financial advisors that sold these investments, as well as potential other liable third parties.
Silver Law Group is led by Scott Silver, a well known investor advocate with many years of experience representing investors in securities and investment fraud cases. As the chairman of the Securities and Financial Fraud Group of the American Association of Justice, Scott wrote the popular securities arbitration primer which is used by attorney’s to better understand the securities arbitration process.
If you or someone you know invested in GWG-offered L Bonds, contact Silver Law Group for a confidential consultation at email@example.com or toll free at (800) 975-4345.