In our ongoing efforts to serve investors, Rose Law is representing individuals who purchased GWG L Bonds. These bonds were issued by GWG Holdings, Inc., which defaulted in 2022, significantly impacting numerous investors left holding worthless investments. Decoding the GWG L Bonds Fiasco Various broker-dealers were negligent in the sale of GWG L Bonds. Broker-dealers should [...]
GWG L-Bond Concerns Began Long Before SEC Investigates, Meanwhile Investors Were Still Encouraged to Buy
Nearly 27,000 retail investors who are owed approximately $1.6 billion were the last to find out about GWG Holdings, Inc.’s serious financial troubles.
The official Committee of Bondholders of GWG Holdings Inc. has filed a legal motion in GWG’s chapter 11 case in support of L Bond investors and listing several serious allegations against GWG.
As GWG Holdings continues to struggle, investors are left holding the bag on millions of dollars of its failed L bonds. Many of those investors should never have been invested in the risky bonds in the first place.
GWG L bond investors are facing significant losses as GWG Holdings navigates both bankruptcy and class action lawsuits. Despite the bonds offering high interest dividends, the GWG L Bonds were poorly secured, unlisted and unsellable once purchased, while also being aggressively auto-renewed. This combination of high risk and illiquidity should have meant that they [...]