GWG Holdings Lawsuit

• Why go after brokerages? Brokerages
• What’s the rush? Why act now?
• How much will a lawsuit cost? Costs
• How long will a lawsuit take? Timeframe
• Is filing a claim difficult? Difficulty
• GWG Holdings Updates – get the latest news

Our legal team has been helping GWG investors recover money for nearly two years, and has already recovered over $1.6 million for GWG Investors. We have resolved dozens of claims and put hard-earned money back in our clients’ pockets.  

We recently convinced a panel of arbitrators that L Bonds were an unsuitable investment, and that the brokerage failed to properly inform clients of the risks. The panel ordered the brokerage to pay our clients $246,000 plus interest. The trial was covered by Investment News: 

“We appreciate that the arbitration panel reached the same conclusion that we had, that GWG was a complex alternative investment that wasn’t suitable for a Mom and Pop investor who was retired or seeking a low-risk  investment[…]“GWG’s own marketing materials highlighted the risky nature of the business, and that was ignored by the handful of broker-dealers that put the product on their platform.” – Scott Silver 

What did brokerages do wrong? Brokerage firms have a legal responsibility to conduct due diligence on the investment products they offer. Many brokerage firms ignored obvious warning signs that GWG was a bad investment, but sold GWG L Bonds their clients anyway, so they could take home up to an 8% commission on each L Bond sale.  

Do you have to sue your broker? No. We are filing legal claims against the brokerage firms that offered GWG, not the broker themselves. The brokerage firms select the investment product that advisors may offer to their clients. Many brokerages across the nation encouraged the sale of risky and speculative GWG L Bonds – it’s time to hold them accountable.  

The bankruptcy is unlikely to resolve quickly, and based on other bankruptcy proceedings, it is unlikely that investors will get significant financial recoveries through the bankruptcy process.  

 Some investors have been waiting to file a legal claim until the bankruptcy is further along, but these investors may be at the back of the line when it’s too late some brokerages have also gone bankrupt, and the passage of time can affect investors’ legal rights to file claims.  

We pursue cases on behalf of our clients on a “contingency fee basis”. This means that pursing a GWG L bond lawsuit against your brokerage will cost you nothing unless we win, and even then, you pay nothing out-of-pocket (our attorneys’ fees and costs are deducted from your recovery).

There is no financial downside to you if you pursue a legal claim—you only stand to recover additional funds.

These legal claims typically take between 9-16 months to resolve. 

 The cases go through a process called arbitration, which is typically much faster than court cases (including bankruptcy cases). 

The reason to hire good lawyers is that they make the process easy for you, and you feel comfortable with your them.

We take our commitment seriously to keep the burden on our clients to the bare minimum.

As in any legal case, you will need to provide us with certain documents and information and communicate with us as the case progresses.

You will not need to sit for a deposition. The process for suing a brokerage typically involves less work and is much quicker than filing a lawsuit in court