Understanding Your Legal Rights After GWG Holdings’ Bankruptcy
In April 2022, the financial landscape for many investors changed drastically when GWG Holdings filed for bankruptcy. Particularly impacted were those invested in GWG L Bonds, which have since become notably problematic. At Bakhtiari & Harrison, a premier law firm located in Beverly Hills focusing on FINRA arbitrations, we are committed to providing expert guidance and assertive representation for investors negatively affected by these developments.
The Complications with GWG L Bonds GWG L Bonds, inherently high-risk, have been significantly affected by the bankruptcy of GWG Holdings. These investments, once attractive for their potentially high returns, now pose substantial financial risks to holders. Understanding these complex financial products is the first step in determining potential recourses for investors seeking redress for their losses.
Regulatory Challenges Faced by Western International Securities
Western International Securities and its advisors have faced a slew of regulatory issues recently, including serious allegations of misconduct and a lack of proper supervision. Notably, in June 2022, the Securities and Exchange Commission (SEC) brought charges against Western International Securities and five of its California-registered financial advisors, citing violations connected to the sale of alternative investments, including GWG L Bonds (Case No. 2:22-cv-04119). Following these allegations, Western International agreed to a censure and consented to pay more than $870,000 in fines and restitution. This payment was meant to address claims that the firm had made unsuitable recommendations to its clients regarding investments in non-traded REITs and ETFs.
Why FINRA Arbitration is Essential
FINRA arbitration serves as an essential mechanism for resolving disputes between investors and their brokers or advisors. We leverage our deep understanding of securities law and strategic litigation approaches to represent the rights of investors, especially those impacted by the imprudent recommendation of GWG L Bonds. Arbitration through FINRA can often lead to quicker resolutions compared to traditional litigation, demanding a nuanced legal approach that our firm is well-equipped to provide. We excel in navigating the complexities of FINRA arbitration which includes:
- Evaluating the full scope of our clients’ financial losses.
- Assembling robust evidence of misconduct or poor advice.
- Formulating effective case strategies aimed at maximizing financial recovery.
The attorneys at Bakhtiari & Harrison have a successful track record in representing clients in similar circumstances. Selecting the right legal representation is critical, particularly during challenging financial times. Our firm is distinguished by:
- A deep focus on securities law and FINRA arbitration.
- A client-centric approach, tailored to each individual’s case and financial circumstances.
- A steadfast dedication to achieving the best possible outcomes for our clients.
If you’ve invested in GWG L Bonds through Western International Securities and have incurred losses, prompt action is essential. Contact us today for a complimentary consultation.