GWG Holdings Shareholder Alert
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In GWG Holdings To Contact Him Directly To Discuss Their Options
New York, New York--(Newsfile Corp. - January 28, 2022) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against GWG Holdings, Inc. ("GWG Holdings" or the "Company") (NASDAQ: GWGH).
If you suffered losses exceeding $50,000 investing in GWG Holdings stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/GWGH.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
On January 18, 2022, the Company disclosed that its Annual Report will likely be filed "later than the March 31, 2022 due date" because of "the recently disclosed decision of its independent registered public accounting firm to decline to stand for reappointment." The Company further disclosed that it "did not make the January 15, 2022 interest payment of approximately $10.35 million and principal payments of approximately $3.25 million with respect to its L Bonds" product and that it elected to "voluntarily suspend its L Bonds sales effective as of January 10, 2022."
On this news, GWG stock price fell $2.17 per share, or 27.7%, to close at $5.65 per share on January 18, 2022.
Then, on January 27, 2022, The Wall Street Journal reported that GWG received a subpoena in 2020 from the Securities and Exchange Commission's division of enforcement ordering the Company to produce documents. The paper also reported that an attorney who represents multiple L Bonds investors said that most of his clients are retail investors who bought the bonds after hearing a sales pitch that the products were safe and would offer a comfortable income stream for their retirement, but that "they were shocked to learn that their money was used to pay old investors while the company has been under SEC investigation."
On this news, GWG's stock fell more than 20% during intraday trading on January 27, 2022, thereby further injuring investors.
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