Schedule an appointment by contacting us now at 88 or by completing our contact form. Our track record of success includes winning claims against Charles Schwab, Edward Jones, MetLife Securities, Morgan Stanley, Prudential Securities, Raymond James, Regions Morgan Keegan, and other investment firms as well as individual brokers. The Frankowski Firm represents clients throughout the country in FINRA securities arbitrations. The company had to pause selling L Bonds again in January 2021 as it began working with restructuring advisers, and because its auditor had resigned. GWG Holdings had suspended sales of L Bonds for eight months due to the delayed filing of its 2020 annual report but resumed again in December. GWG Holdings filed for bankruptcy on April 20, 2022. Lion Street Financial (Stiba Wealth Management) Among the firms believed to be in the GWG network selling L Bonds are: GWG reports that L Bonds were typically sold by a seller network made up of approximately 145 brokerage firms. The SEC subpoenaed documents related to brokerage firms that were selling the L Bonds, investigating sales practices related to the Bonds. In October 2020, the SEC opened an investigation into GWG Holdings regarding its accounting and its issuance of L Bonds. We're here to stand up for those investors and make sure each brokerage who sold this investment product is held accountable.” Our track record of success includes winning claims against Charles Schwab, Edward Jones, MetLife Securities, Morgan Stanley, Prudential Securities, Raymond James, Regions Morgan Keegan, and other. GWG entered chapter 11 bankruptcy, but not after raising nearly $2 billion mostly from individual investors. Richard Frankowski, attorney and founder of The Frankowski Firm, said: “Anyone who bought GWG Holdings L Bonds without being warned of their very high risk should talk to an attorney as soon as possible. Many L Bond investors were retired and elderly, and many invested their life savings. The Frankowski Firm contends that brokerages who recommended and sold the L Bonds to investors without disclosing their high risk are potentially liable. GWG Holdings sold the speculative and high-risk L Bonds, which pooled money from bond investors to purchase life-insurance policies on the secondary market, with the intention of using the payouts to pay the bonds when the life insurance policy holders died. The company was founded on Decemand is headquartered in New York, NY.DALLAS-( BUSINESS WIRE)-The Frankowski Firm is accepting new clients in securities arbitration claims before the Financial Industry Regulatory Authority (FINRA) for losses sustained from GWG Holdings L Bonds, after the alternative asset manager filed for bankruptcy. The Corporate and Other segment includes several consolidated subsidiaries, including Steel Services, equity method and other investments, and cash and cash equivalents. The Financial Services segment consists primarily of the operations of WebBank. The Energy segment provides drilling and production services to the oil and gas industry and owns a youth sports business. The Diversified Industrial segment includes manufacturers of engineered niche industrial products, including joining materials, tubing, building materials, performance materials, electrical products, cutting replacement products and services, and a packaging business. It operates through the following segments: Diversified Industrial, Energy, Financial Services, and Corporate and Other. Steel Partners Holdings LP engages in owning and operating businesses in various industries, including diversified industrial products, energy, defense, supply chain management and logistics, banking, and youth sports.
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