GWG Holdings, Inc. Files for Bankruptcy – GWG L Bond Holders Urged to Take Immediate Action
GWG L Bond investors are encouraged to contact Dimond Kaplan & Rothstein, P.A., a nationally recognized securities arbitration law firm, to submit FINRA arbitration claims to recoup investment liabilities.
NEW YORK–(BUSINESS WIRE)– GWG Holdings, Inc. petitioned for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of Texas on April 20, 2022. The bankruptcy case is potentially catastrophic for GWG L Bondholders and casts severe uncertainty on whether investors will recoup their principal investment. Dimond Kaplan & Rothstein, P.A. is investigating potential claims against the brokerage firms that sold the GWG L Bonds. DKR offers free consultations to investors to assess their prospective claims.
According to filings, GWG has more than $2 billion in overall liabilities as of September 2021, along with $1.55 billion in L Bonds. Considering the nature of bankruptcy filing and the wording in the prospectus, GWG L bondholders may be unlikely to recover their capital directly from GWG as part of the bankruptcy.
L Bond holders may be able to recover their losses through a FINRA arbitration claim against the brokerage firms that sold the bonds.
What Investors Can Do: GWG L Bond investors should contact Dimond Kaplan & Rothstein, P.A., a securities arbitration law firm, for a free and private consultation. DKR will assess the merits of any FINRA arbitration claim that you may have against the brokerage firm that sold you the GWG L Bonds. If you choose to hire DKR to represent you in such a claim, DKR represents clients on a contingency-fee basis, whereby you only owe attorneys’ fees if and when DKR recovers money for you.
Contact an investment fraud attorney at Dimond Kaplan & Rothstein, P.A. for a FREE case evaluation. Our offices are located in Miami, Los Angeles, West Palm Beach, New York, and Naples and we represent clients nationwide. Translation services are available.