Are You A Novice Investor Whose Broker Unsuitably Recommended GWG L Bonds?
You May Be Able To Pursue Damages By Filing A FINRA Lawsuit
If you are a GWG L bond investor who suffered serious losses in what is now believed to have been a classic Ponzi scam, please know that there is no guarantee that you will get much, if anything at all, back if you are relying solely on the regulatory actions and class action securities lawsuits. Not to mention that all of those could take years to resolve.
What you can do, however, is explore your other legal options, which may mean suing your broker-dealer who may have unsuitably recommended these high-risk junk bonds to you.
Shepherd Smith Edwards and Kantas FINRA Lawsuit Attorney team (investorlawyers.com) are representing a number of L bond investors in pursuing damages from the brokerage firms that earned high commissions from selling these investments. As a matter of fact, two of the firms that we have previously pursued on behalf of clients, are once again the respondents in recent FINRA lawsuits that we filed:
- An Arizona retiree is pursuing up to $500K from Moloney Securities. This investor wanted investments that weren’t too risky so he could grow his funds for retirement. Instead, he experienced a complete loss of principal.
- Two other investors are also suing Moloney Securities in their six-figure lawsuit.The claimants, who are related, are accusing California broker Robert Vance of misrepresenting the risks and unsuitably recommending these high-risk bonds when they made it clear that they were risk averse. Vance, who is under investigation by the US Securities and Exchange Commission (SEC) over alleged best-interest violations, has been involved in at least 10 customer disputes since 2022. Those who are GWG L bond investors are collectively seeking up to $1M in damages.
- Two Kentucky investors are pursuing damages of up to $500K from Center Street Securities. Despite the fact that they were seeking financial security while preparing for retirement, their financial advisor unsuitably recommended GWG L bonds and other problematic alternative investments. This included GPB Holdings II, which is also embroiled in a separate alleged Ponzi scam. The claimants contend that they were never apprised of the risks.
Visit our GWG L Bonds page to find out more.
How Can Our Savvy L Bond Investor Loss Lawyers Help?
Suing your broker for damages is not the kind of legal claim that you should pursue without experienced securities representation by your side. Not only that, but you want to work with a FINRA Lawsuit Attorney who understands how FINRA arbitration works and has obtained successful case outcomes in this legal forum.
Over the years, more than 90% of the investors we have represented have received full or partial financial recovery in arbitration, mediation, or court. Should we agree to work together, you will become part of our unit of GWG L Bond loss claims represented by our entire team of skilled investor attorneys, legal assistants, consultants, and others.
Being represented by securities lawyers who are handling more than one L bond claim and have an in-depth knowledge of how this investment failed and why your broker should be held liable will only maximize your chances of recouping damages.
How To Contact Our FINRA Lawsuit Attorney Team: