Federman & Sherwood Notifies Shareholders and Investors in GWG Holdings, Inc. (NASDAQ: GWGH) And Financial Advisors who Sold Bonds for GWG Holdings, Inc.

Rhea-AI Summary

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%.

Positive

• None.

Negative

• Failure to make interest payments of approximately $10.35 million and principal payments of approximately $3.25 million.
• Voluntary suspension of L Bonds sales effective January 10, 2022.
• Ongoing SEC investigation since 2020, indicating potential legal issues.
• Over 60% decline in stock value since January 10, 2022.

OKLAHOMA CITY--(BUSINESS WIRE)-- Federman & Sherwood has been investigating GWG Holdings, Inc. (“GWG Holdings”) (NASDAQ: GWGH). Investors who are concerned about the effect of a default on the bonds can contact Federman & Sherwood to discuss their options.

In its recent Form 8-K filing with the SEC, GWG Holdings disclosed that it “. . . did not make the January 15, 2022 interest payments of approximately $10.35 million and principal payments of approximately $3.25 million with respect to its L Bonds.” GWG Holdings also stated it has “elected to voluntarily suspend its L Bonds sales effective as of January 10, 2022.”

After GWG Holdings’ failure to pay its interest payments and its suspension of the L Bonds, The Wall Street Journal reported that GWG Holdings has been under SEC investigation since 2020. The Journal also reported that the majority of afflicted investors were “retail investors” that “were shocked to learn that their money was used to pay old investors while the company has been under SEC investigation.”

Since January 10, 2022, GWGH is down more than 60%.

INVESTORS OF GWG HOLDINGS OR THOSE BOUGHT BONDS SOLD BY FINANCIAL ADVISORS FOR GWG ARE ENCOURAGED TO CONTACT TIFFANY R. PEINTNER AT 405.235.1560 OR EMAIL MS. PEINTNER TO DISCUSS THE GWG HOLDINGS INVESTIGATION OR POTENTIAL LEGAL CLAIMS.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220408005587/en/

Tiffany R. Peintner

FEDERMAN & SHERWOOD

Email to: trp@federmanlaw.com

Or visit the firm’s website at www.federmanlaw.com

Source: Federman & Sherwood

FAQ

What is the latest news about GWG Holdings (GWGH) regarding bond payments?

GWG Holdings failed to make approximately $10.35 million in interest and $3.25 million in principal payments due on January 15, 2022.

When did GWG Holdings suspend its L Bonds sales?

GWG Holdings voluntarily suspended its L Bonds sales effective January 10, 2022.

How much has GWG Holdings stock dropped since January 2022?

Since the suspension of L Bonds sales on January 10, 2022, GWG Holdings' stock has dropped by more than 60%.

Is GWG Holdings being investigated by the SEC?

Yes, GWG Holdings has been under SEC investigation since 2020.

Who can investors contact regarding the GWG Holdings investigation?

Investors can contact Tiffany R. Peintner at Federman & Sherwood for discussions about the investigation or potential legal claims.