Federman & Sherwood has been contacted by investors and bond holders of GWG Holdings, Inc. (“GWG Holdings”) (NASDAQ: GWGH) The investors are concerned about the potential default on the bonds and the impact on the investors. Federman & Sherwood is investigating securities claims relating to GWG Holdings alleged violations of federal securities laws.
In its recent Form 8-K filing with the SEC, GWG Holdings disclosed that it “. . . did not make the January 15, 2022 interest payments of approximately $10.35 million and principal payments of approximately $3.25 million with respect to its L Bonds.” GWG Holdings also stated it has “elected to voluntarily suspend its L Bonds sales effective as of January 10, 2022.”
After GWG Holdings’ failure to pay its interest payments and its suspension of the L Bonds, The Wall Street Journal reported that GWG Holdings has been under SEC investigation since 2020. The Journal also reported that the majority of afflicted investors were “retail investors” that “were shocked to learn that their money was used to pay old investors while the company has been under SEC investigation.”
Since January 10, 2022, GWGH is down more than 60%.
INVESTORS OF GWG HOLDINGS OR THOSE BOUGHT BONDS SOLD BY FINANCIAL ADVISORS FOR GWG ARE ENCOURAGED TO CONTACT D. COLBY ADDISON, ESQ., AT 405.235.1560 OR EMAIL D. COLBY ADDISON TO DISCUSS THE GWG HOLDINGS INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
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William B. Federman
D. Colby Addison
FEDERMAN & SHERWOOD
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