Recovery Options for GWG L Bondholders
—Marc Fitapelli, Esq.
NEW YORK, United States, February 17, 2022 /EINPresswire.com/ — MDF Law, a New York-based securities and investment fraud law firm publishes a February 14, 2022 letter to investors in connection with its ongoing investigation into breaches of bond-selling practices GWG L by financial advisers. The law firm also urges L-bond investors to call attorneys Marc Fitapelli or Jeffrey Saxon at 800-767-8040 to determine if they are eligible to seek compensation for their investment in GWG L Bonds.
On February 14, 2022, GWG Holdings sent a letter to investors regarding its obligation to make payments to its L bondholders. According to this letter, GWG said it was “evaluating restructuring alternatives “. He offered no response on when payments might resume. In January 2022, it defaulted on its obligation to pay investors approximately $13.6 million in interest and principal under its L Bond program. After defaulting, GWG filed a Form 8-K with the SEC on January 18, 2022 to notify the SEC and investors that it had engaged bankruptcy attorneys.
Many investors in GWG L bonds are retirees who relied on income payments from GWG to support themselves. For these people, the loss of income associated with the ad is devastating. Equally devastating is the prospect that bond payments may not continue any time soon, if at all. Many investors faced with this grim news are suing FINRA Arbitrations against financial advisers who marketed GWG L bonds, says securities lawyer Marc Fitapelli. Mr. Fitapelli’s law firm, MDF Law, is investigating wrongdoing by financial professionals who marketed GWG bonds.
Financial advisers and other professionals who marketed GWG L bonds can be held liable to their clients for damages, says lawyer Fitapelli. Cases involving wrongdoing by a financial adviser are normally heard by binding arbitration before the Financial Industry Regulatory Authority, or FINRA. When a client opens an account with a brokerage firm or financial advisor, they generally agree to arbitrate all disputes before FINRA, which operates one of the largest alternative dispute resolution programs in the country. .
MDF Law invites investors in L Bonds to contact its office. If you or someone you know has invested, you may be able to file for arbitration seeking recovery if you can answer YES to any of the following questions:
• You are 65 or older;
• You have a conservative or moderate risk tolerance;
• You have invested $100,000 or more;
• You have misunderstood the risks of GWG L bonds;
If you answered YES to any of the previous questions, you may be able to claim financial compensation. Contact MDF Law at (800) 767-8040 to speak with an attorney. The call is free and the law firm is not paid if it does not collect the money on behalf of the investor. MDF Law is a New York-based law firm that exclusively represents investors in FINRA arbitration cases. The firm’s lawyers have decades of legal experience and have helped investors recover hundreds of millions of dollars.
PRIOR RESULTS DO NOT GUARANTEE A SIMILAR RESULT
Marc Fitapelli, Esq.
MDF Law SARL
28 Liberty Street, 30th Floor
New York, New York 10005
Receptionist: (212) 203-9300
Direct phone: (212) 658-1501
Fax: (212) 208-3066
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