GWGH - GWGH STOCK NEWS

GWG Holdings, Inc. (NASDAQ: GWGH) filed for bankruptcy protection on April 20, 2022, in Texas, with investigations ongoing by the U.S. Securities and Exchange Commission regarding its business practices. Attorneys from Sommerman, McCaffity, Quesada & Geisler are advocating for a coalition to protect the interests of over $1.3 billion in bonds held by investors. They emphasize the need for a committee representing bondholders in bankruptcy proceedings to pursue viable claims against GWG and its management.

GWG Holdings, Inc. (Nasdaq: GWGH) has filed for voluntary Chapter 11 bankruptcy to facilitate a financial restructuring aimed at enhancing liquidity and asset value. The company secured approximately $65 million in debtor-in-possession financing, pending court approval, to support its operations during the restructuring. This move is anticipated to strengthen GWGH's financial position and preserve asset value for investors. The company plans to continue standard operations while seeking court motions for business continuity during the proceedings.

Federman & Sherwood is investigating GWG Holdings (NASDAQ: GWGH) following its failure to make approximately $10.35 million in interest and $3.25 million in principal payments on L Bonds as of January 15, 2022. The company announced a voluntary suspension of L Bonds sales effective January 10, 2022. Additionally, The Wall Street Journal reported ongoing SEC investigations since 2020, revealing that retail investors were reportedly misled about their investments. Since the suspension, GWGH's stock has plummeted by over 60%.

GWG Holdings, Inc. (Nasdaq: GWGH) announced it received a notification from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1) due to the late filing of its Annual Report on Form 10-K for the fiscal year ending December 31, 2021. The notification does not affect the current trading status of GWGH’s stock. The company must submit a compliance plan within 60 days, and if approved, it may receive an additional 180 days to comply with Nasdaq requirements.

Federman & Sherwood has been contacted by investors of GWG Holdings regarding concerns over potential bond defaults. The firm is investigating securities claims against GWG Holdings for alleged federal securities law violations. Recently, GWG Holdings disclosed it failed to make approximately $10.35 million in interest payments and $3.25 million in principal payments due on January 15, 2022. Following these defaults, the company suspended L Bonds sales effective January 10, 2022, resulting in a more than 60% decline in stock value since that date.

Federman & Sherwood is investigating potential securities fraud claims for investors of GWG Holdings (NASDAQ: GWGH). The claims relate to GWG Holdings' alleged violations of federal securities laws. The company recently disclosed that it missed interest payments of approximately $10.35 million and principal payments of around $3.25 million on its L Bonds. Additionally, they have suspended L Bonds sales since January 10, 2022. Following these events, GWGH shares have dropped over 60% since that date.

GWG Holdings, Inc. (Nasdaq: GWGH) announced compliance with Nasdaq Listing Rule 5620(a) and confirmed its continued listing on the Nasdaq Stock Market. This confirmation follows the completion of the 2020/2021 annual shareholder meeting. As of September 30, 2021, GWGH holds life insurance policy benefits valued at $1.8 billion and has diversified exposure through its investment in The Beneficient Company Group, L.P., which has a portfolio of 111 alternative investment funds.

GWG Holdings, Inc. (Nasdaq: GWGH) held its combined 2020/2021 Annual Meeting of Stockholders on December 17, 2021, where stockholders re-elected four directors: Peter T. Cangany, Jr., David F. Chavenson, David H. de Weese, and Timothy L. Evans. This meeting was crucial for fulfilling Nasdaq listing requirements. The voting results have been disclosed in a Current Report on Form 8-K filed with the SEC. GWGH continues to be a leader in innovative financial and liquidity solutions.

GWG Holdings, Inc. (Nasdaq: GWGH) has resumed sales of its L Bonds after completing financial filings, signaling compliance with Nasdaq SEC requirements. The company reported a net loss of $50.6 million for Q3 2021, compared to $48.9 million in Q3 2020, driven by increased interest expenses and lower gains on life insurance policies. Beneficient, GWGH's investment, became independent, which may enhance its funding access. However, GWGH disclosed substantial doubt regarding its financial viability due to ongoing capital raising challenges and a material weakness in internal controls.