Investor Lawyers Blog
Investors in securities sold by GWG Holdings (“GWGH”), including L Bonds, preferred stock, and common stock listed on Nasdaq under the ticker symbol GWGH, may have legal claims, including possible claims if their investment was recommended by a financial advisor who lacked a reasonable basis for the recommendation, or if the nature of the investment was misrepresented by the stockbroker or advisor.
30 days after missing interest and principal payments that were due to be paid to L Bond investors on January 15, 2022, GWGH’s grace period to make the interest and maturity payments before it was officially in an event of default expired as of February 14, 2022.
On February 14, 2022, GWG Holdings, Inc. confirmed in a letter to investors (accessible here GWG Letter) that it will not make monthly interest and maturity payments on its L Bonds, or dividend payments to preferred stockholders until further notice. In addition, GWG holdings has confirmed that it will continue to defer requests for redemptions.