Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against GWG Holdings, Inc. L Bonds or Preferred Stock of GWG ("GWG securities") (OTC: GWGHQ) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired GWG securities between December 23, 2017 and April 20, 2022, inclusive (the ''Class Period''). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/gwghq.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The complaint alleges that throughout the Class Period, Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) they intended to, and did, misappropriate GWG assets to assist Defendants Heppner, and Jon and Steven Sabes launch their start-up companies, repay Beneficient Company Group L.P. ("Ben LP") debt incurred from the transaction with Heppner's tech company, and funnel investor funds through Ben LP to fund Heppner's luxurious ranch and use of private jet travel; (2) GWG's life insurance investment business had failed; and (3) GWG could only repay prior investors by issuing increasing amounts of securities to new investors. In essence, Defendants had turned GWG into a Ponzi scheme.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/gwghq or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in GWG securities, you have until June 2, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | email@example.com