GWG Investment Loss Attorneys
GWG L Bond Investors Still Have Time To Sue Their Brokers Over Their Losses
Our Knowledgeable GWG Investment Loss Attorneys Can Help You Explore Your Legal Options
Nearly one year after GWG Holdings, Inc. filed for Chapter 11 bankruptcy, L Bond investors who were sold $1.6B of these high-yield junk bonds are still waiting to recover their losses. If you are someone who purchased GWG L Bonds at the recommendation of your financial advisor, you should know that waiting for your money through these proceedings could be a very long and potentially disappointing process. What you can do, however, is explore your other legal options and see if you have grounds for suing your broker-dealer or investment adviser that sold you these alternative investments. Visit GWG Holdings for more information.
Shepherd Smith Edwards and Kantas (investorlawyers.com) are currently representing dozens of L Bond investors, including many inexperienced retail investors, and older retirees in their FINRA lawsuits against their broker-dealers. Most recently, these include:
- An older Illinois investor is suing Ausdal Financial Partners. She contends that she never even spoke with Ausdal Financial broker Walter David Nagel (also of Dowling Legacy and Retirement in Orland Park), who facilitated the L Bond sale. She also alleges that the broker-dealer did not contact her to confirm whether these junk bonds were a suitable investment recommendation for her and that misrepresentations and omissions were made. By the time she bought GWG bonds, there was already enough available information about GWG Holding’s financial woes and yet purportedly none of this was disclosed to her.
- A novice investor who is accusing Emerson Equity and its broker Tony Barouti (also of Barouti Financial in California) of affinity fraud in relation to her L Bond investment losses. Barouti has been accused by other investors of using their shared cultural affinity to draw them in. This included making fraudulent and misleading statements about GWG L Bonds on his Persian radio show. Already, more than two dozen FINRA lawsuits have been filed since 2022 against Emerson Equity related to Barouti, and a number of these were legal complaints made by our experienced securities attorneys.
What Should You Do If You Suspect That You Were The Victim of GWG L Bond Fraud?
- Contact our trusted GWG L Bond investor loss lawyers today. We have conducted in-depth due diligence into why this financial product failed and the ways in which brokers and investment advisers were negligent or engaged in financial advisor misconduct. Unfortunately, the incentive of high commissions may have compelled a number of broker-dealers to disregard their clients’ best interests.
- Shepherd Smith Edwards and Kantas can help you explore your legal options and help you determine whether you have grounds for a FINRA lawsuit. Because you likely signed a pre-arbitration clause in which you agreed to resolve any disputes with your broker-dealer through arbitration, you want experienced FINRA attorneys that know how this forum works and have a record of securing awards and settlements for investors. More than 90% of the clients we have represented have received full or partial financial recovery through mediation, litigation, and arbitration.
If it was an individual registered investment adviser that unsuitably recommended L Bonds to you, then they are likely dually registered as a broker. In this case, you may have grounds for a securities claim against the brokerage firm that employs them.)
- DO NOT try to resolve your L Bond loss claim on your own or directly with your broker-dealer or investment adviser. Typically, they will not admit to wrongdoing and may even seek to obstruct your securities case.
- Should we agree to work together, you will be retaining not just one attorney, but the legal services of our entire bond fraud law firm. Because we represent other L Bond investors, you will benefit from all of the discovery and due diligence we’ve already conducted in addition to the hard work we will do on your claim.
To schedule your free, no-obligation case assessment with our GWG Investment Loss Attorneys, call (800) 259-9010 today.