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If you’re a GWG L Bond investor, the past few years have likely been a rollercoaster of frustration and uncertainty. The bankruptcy of GWG Holdings, Inc. in 2022 left thousands of investors—many of whom are retirees or conservative savers—reeling from significant financial losses. GWG recovery attorney August M. Iorio has been fighting tirelessly for GWG…

What You Need to Know: Western International Securities Agrees to Settle Lawsuit with the SEC On July 31, 2024, the SEC announced that it had reached an agreement with Western International Securities and five of its registered representatives to settle an ongoing lawsuit arising out of the sale of high-risk and speculative L Bonds issued…

In recent court filings, Emerson Equity LLC has disclosed that it has paid over $2.1 million in attorney fees and arbitration costs through January 1, 2024, to defend itself from more than 60 customer complaints related to its sale of GWG L Bonds. In addition, according to public disclosure reports for its brokers, Emerson Equity…

Iorio Law PLLC and its experienced GWG Holdings L Bonds attorneys, representing retail investors nationwide, continue to investigate and file claims against Ausdal Financial Partners, Inc. for its sale of speculative, high-risk, illiquid, high-commission, and unrated GWG L Bonds to retail investors. The law firm’s investigation is ongoing after three separate arbitration panels awarded investors…

On February 15, 2024, the GWG Wind Down Trust filed a status report with the United States Bankruptcy Court for the Southern District of Texas for the quarter ending December 31, 2023. Although the status report did not include an updated financial statement, there are several key takeaways: We believe that there is no obvious…

Iorio Altamirano LLP and its experienced GWG Holdings L Bonds attorneys continue to investigate and file claims against Centaurus Financial for its sale of risky and speculative GWG L Bonds to mom-and-pop investors. The law firm’s investigation is ongoing after two separate FINRA arbitration panels awarded investors damages in connection with the sale of L…

**Update: November 1, 2023** On October 13, 2023, the GWG Wind Down Trust sold two of its four assets for only approximately $10.5 million. The GWG Wind Down Trust sold its largest tangible asset, its portfolio of life insurance policies, realizing only $10 million in cash. In addition, on October 13, 2023, the GWG Wind…

An elderly couple in their upper 80s filed a FINRA arbitration claim against David Lerner Associates, Inc. (“David Lerner Associates”) to recover losses and damages of up to $1 million. The couple, represented by securities arbitration law firm Iorio Altamirano LLP, alleges that David Lerner Associates recommended an unsuitable investment strategy to invest and concentrate…

Introduction When disputes arise between investors and brokerage firms, they are usually resolved through arbitration. The Financial Industry Regulatory Authority (FINRA) offers a streamlined and cost-effective dispute resolution forum for resolving disputes in the securities industry. In this blog post, we’ll take a deep dive into FINRA arbitration, its key features, benefits, and what you…

On August 1, 2023, GWG Holdings, Inc.’s Chapter 11 bankruptcy plan (the “Plan”) went into effect. As part of the Plan, GWG will be liquidated, and two liquidating trusts have been created: (i) the Wind Down Trust and (ii) the Litigation Trust. As a result of the Plan going into effect, all securities issued by…