L Bond Loss Recovery Lawyers

Illinois Couple Alleges Unsuitable Recommendations in GWG L Bond Lawsuit Against Ausdal Financial

Our L Bond Loss Recovery Lawyers Are Representing These Investors in FINRA Arbitration

If you are an investor who sustained losses in GWG Holdings, there is still time to explore your legal options. Shepherd Smith Edwards and Kantas L Bond Loss Recovery Lawyers (investorlawyers.com) continue to represent many investors, including retirees, who sustained serious losses because their financial advisor unsuitably marketed and sold GWG L Bonds to them. You can find a list of some of the L Bond loss recovery claims we are handling here.

Most recently, we filed a GWG loss lawsuit on behalf of an Illinois couple that is seeking up to $100K in damages from brokerage firm Ausdal Financial Partners. The claimants contend that despite making it clear from the start that they were not interested in exposing their retirement assets to undue risk, their Ausdal Financial broker allegedly completely disregarded their desires and ignored basic industry standards by recommending the high-risk, non-traded, non-rated junk bonds from GWG.

We believe that this financial advisor was more interested in the high commissions he could earn rather than fulfilling the fiduciary duty he owed to his clients.

Ausdal Financial broker David Lee Frohlichstein was the registered representative with whom these investors worked. He purportedly failed to fully disclose all of the risks involved with GWG L Bonds. Not only that, but Ausdal Financial appears to have failed in its supervisory duties to these customers, including allegedly lacking the proper apparatus to oversee this financial advisor and the customers’ accounts.

Now, these Illinois investors are looking at a complete loss of principal.

These are not the only Illinois GWG L Bonds investors we are representing against Ausdal Financial Partners. A few months ago, we filed another FINRA lawsuit against the broker-dealer on behalf of other claimants who sustained losses not only in these junk bonds but also in Moody National REIT  and business development company Greenbacker Renewable Energy.

Regional Broker-Dealers Sold GWG L Bonds Now Tied to Mass Ponzi Scam

More than 140 regional brokerage firms sold $1.6B of L Bonds and earned high commissions and fees in the process. Now, GWG Holdings is accused of operating a more than $1.6B Ponzi scam, and questions have come up as to what brokers could have done to protect customers instead of selling them these high-risk junk bonds while earning hefty commissions in the process.

If you are an investor who sustained L Bond losses that involved broker misconduct or negligence, you want to work with a seasoned securities law firm that understands the role that the  financial advisor fraud contributed to what happened.

When you work with Shepherd Smith Edwards and Kantas, you become part of a unit of GWG L Bond cases that are represented by our entire firm. We harness over a century’s worth of collective experience in securities law and the securities industry.

Over the decades, we have helped thousands of investors obtain full or partial financial recovery from liable broker-dealers and investment advisers. We have worked with clients in over 1000 matters in arbitration, mediation, and litigation.

How To Contact Our L Bond Loss Recovery Lawyers

Call (800) 259-9010 or fill out this form.