Facing SEC Review, GWG Holdings Now Under Investigation By Dallas Law Firm | Texas News

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DALLAS, February 9, 2022 /PRNewswire/ — Dallas-based GWG Holdings, Inc. (NASDAQ: GWGH), a national distributor of financial products and investments, is facing requests from the U.S. Securities and Exchange Commission to produce documents covering sales tactics, business practices, and failure to pay required principal and interest.

the the wall street journal recently reported that GWG received a subpoena from the SEC’s Division of Enforcement, while the company revealed that it had voluntarily suspended sales of its L Bonds product on January 10 and failed to make required principal and interest payments totaling nearly $14 million to January 15.

Based on concerns raised by the SEC and news reports, attorneys for Sommerman, McCaffity, Quesada & Geisler at dallas launched an independent investigation into the company’s business practices.

“We are concerned that GWG and its representatives have failed to disclose the details and risks of these bonds to investors,” the firm said. Sean McCaffity. “We understand that many of these investors are retirees and we want to know if they have been misled by financial advisers and the company. If so, we will take legal action to recover these losses.”

Sommerman, McCaffity, Quesada & Geisler has a distinguished reputation for competent and assertive legal representation in complex commercial disputes involving commercial fraud, auditing malpractice, directors’ and officers’ liability, and fraudulent transfers.

“It should be foreseen that any dispute on behalf of investors would logically be filed in dallasand as dallasNew York-based firm, we are uniquely positioned to attempt individual or class action lawsuits here,” the firm says. Andrew Sommerman. “We have the experience and resources to pursue these claims and welcome the interest of those who may have been defrauded by GWG’s questionable actions.”

The firm has created a dedicated website with additional information, regular updates and other information at www.gwglawsuit.com.

Media Contact:

Sophie Reza

800-559-4534

[email protected]

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SOURCESommerman, McCaffity, Quesada & Geisler

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