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Articles Posted in GWG Holdings

GWG Holdings Defaults On $13.6M Owed To L Bond Investors

Published on: February 17, 2022 | by Shepherd Smith Edwards & Kantas, LLP

Texas-Based Alternative Asset Firm Sends Letter About Failed Payments on Valentine’s Day

On February 14, 2022, GWG Holdings (GWGH) sent a letter to shareholders letting them know that it defaulted on the $3.25M in principal payments plus $10.35M in interest payments owed to L Bond investors.

The Texas-based alternative asset firm had a 30-day grace period to issue the payments beginning on January 15, 2022. GWG Holdings also stated that redemption requests would continue to be deferred. Now, L Bond investors are left with high-yield junk bonds that are not paying them the income promised. These are alternative investments that cannot be redeemed or sold.

SSEK Law Firm Investigates Investors’ Losses From GWG L Bonds Sold By Aegis Capital, Emerson Equity, and Many Others

Published on: February 8, 2022 | by Shepherd Smith Edwards & Kantas, LLP

Deadline for GWG Holdings to Pay L Bond Investors $13.6M is Fast Approaching

Our investment fraud lawyers are speaking with investors who suffered losses in GWG L Bonds. These private placement, high-yield junk bonds were issued by GWG Holdings, Inc. (GWGH) and may have been marketed and sold by many broker-dealers, including Aegis Capital, Emerson Equity, and others.

GWG L Bonds have been available since 2012. However, their sales have been put on “pause” after being reinstated in December 2021 after a suspension of several months. Formerly called Renewable Secured Debentures, it was renamed L Bonds in 2015. GWG Holdings launched a new offering made up of its secured debt known as the Liquidity Bond 2020.