Are You A GWG Bondholder Hoping To Recover Your Losses from The Liquidation Proceedings? If Yes, Then Think Again
Our GWG L Bond Lawyers Are Helping Investors Sue Their Brokers
If you are a GWG Holdings investor who is wondering whether the alternative investment firm’s Chapter 11 bankruptcy plan is what will help you recover your losses, think again. Despite the recently submitted Summary of Treatment of Bondholders Under the Debtors’ Second Amended Joint Chapter 11 Plan, which claims that investors could end up recovering anywhere from 9%-100% on the face of the bonds—a range so broad that it isn’t really promising shareholders anything—your best chance for maximizing your financial recovery is to sue the broker-dealer that unsuitably sold you GWG L Bonds.
Granted, the Official Committee of Bondholders, which is the fiduciary appointed by the US government to represent bondholders’ interests, seems to be on board with what the Summary is proposing. However, consider that, per the court document, bondholders will be paid “over time” with the timing and amount of cash distributions “uncertain.” Instead, if you want to maximize your chances for a full recovery of your losses, you should speak with Shepherd Smith Edwards and Kantas (investorlawyers.com) today.
Already, thousands of investors have had to contend with significant losses, with many of them patiently waiting to recoup their funds. Seeing that GWG Holdings filed for bankruptcy over a year ago—and is now accused of operating a more than $1.6B Ponzi scam and is contending with those allegations—you should know that the odds of anything substantial happening soon for bondholders from these bankruptcy proceedings is highly unlikely.
Visit GWG Holdings and GWG Holdings L Bonds for more information.
Keep in mind too that the liquidation proceedings could take years with no guarantee of a “successful” outcome for bondholders. However, what you can do is pursue damages from the brokerage firm that failed to conduct the necessary due diligence to discern whether GWG L Bonds were a safe bet for many investors, including many retirees and older investors who ended up buying these high-risk junk bonds and losing their savings.
How Can You Pursue GWG L Bond Losses From Your Broker-Dealer?
This is not the type of investor fraud lawsuit that you want to pursue without seasoned bond fraud lawyers by your side. Because this is a dispute with your brokerage firm, you will need to sue them in FINRA arbitration as opposed to going to court. This is yet one more reason why you want a knowledgeable investor loss law firm representing you while protecting your best interests.
Already, Shepherd Smith Edwards has filed dozens of L Bond lawsuits against the broker-dealers who unsuitably recommended GWG junk bonds to customers and allegedly made misrepresentations and omissions, overconcentrated their accounts, and engaged in other acts of financial advisor misconduct or negligence. Most recently, this included our firm suing International Assets Advisory, LC on behalf of a family of Louisiana investors who worked with Metairie, LA broker Robert Alvarez. The claimants are now requesting up to seven figures in damages.
If you are wondering whether you too have grounds for a broker-fraud claim related to your GWG L Bond losses, contact us today to request your free, no-obligation case assessment.
Why Hire Our Trusted GWG L Bond Lawyers?
With over a century’s worth of combined experience in securities law and the securities industry, our L bond loss attorneys have the skills, resources, and experience to pursue even the most complex investment loss claims for investors. We have sued the largest firms on Wall Street on behalf of our clients. As a matter of fact, more than 90% of those we have represented have received full or partial financial recovery with our help.
Accusing a brokerage firm of fraud or negligence is challenging and very few broker-dealers will admit to any wrongdoing. Many will try to deny your allegations and even stonewall your efforts at resolution. Because there is a statute of limitations for filing a broker fraud lawsuit, the sooner you start working with savvy broker-dealer negligence lawyers in preparing your claim and submitting it to FINRA arbitration, the better for your securities case.
Because we are representing dozens of GWG L Bond investors, know that this benefits each claimant who will be part of a unit claim being handled by our well-respected securities lawyers. By now, we are very well-versed in why these high-risk bonds failed and the ways in which broker negligence was a factor.
How To Contact Our Team of GWG L Bond Lawyers:
Allow us at Shepherd Smith Edwards and Kantas to help you explore your legal options. Call (800) 259-9010 today.