Moloney Securities Lawsuits: How to Recover Financial Losses involving GWG L Bonds
Did you suffer financial losses involving GWG L Bonds with Moloney Securities Co.? If so, the investment fraud attorneys at the White Law Group may be able to help you.
Bad News Continues for GWG Investors
According to reports yesterday, GWG Holdings Inc filed for Chapter 11 bankruptcy protection after months of uncertainty for investors.
According to a news release, GWG and its subsidiaries, GWG Life, LLC and GWG Life USA, LLC, have filed voluntary Chapter 11 petitions in the U.S. Bankruptcy Court for the Southern District of Texas as part of a restructuring process. The company says it “expects restructuring to strengthen its financial position and enhance the value of its assets.”
In the filing, the company blames the Securities and Exchange Commission “for the company’s collapse,” claiming that SEC’s investigation of the company eventually included the sales practice of some of the 145 broker-dealer firms that sold the bonds. According to GWG, the investigation of these broker-dealers harmed GWG’s reputation in the marketplace and prevented it from raising more capital through sales of GWG L Bonds.
As we previously reported, GWG failed to make $13.6 million in payments in January to bondholders.
To learn more, please see: GWG Holdings Files Chapter 11 Bankruptcy Protection after Missing Interest Payments to Investors
Moloney Securities Customers may have Claims
Moloney Securities Co., a dually registered broker dealer located in Manchester, MO is one of many regional broker-dealers who sold L Bonds to investors.
Broker dealers are required to perform adequate due diligence on all investment recommendations they make. They must ensure that each investment is suitable for the investor in light of the investor’s age, risk tolerance, net worth, financial needs, and investment experience.
If a broker or brokerage firm makes an unsuitable investment recommendation or fails to adequately disclose the risks associated with an investment they may be liable for investment losses through FINRA arbitration.
If you suffered losses investing in GWG L Bonds with Moloney Securities Co. and would like to discuss your litigation options, please call the securities attorneys of The White Law Group at (888) 637-5510 for a free consultation.
These claims are distinct from the class action filed directly against GWG Holdings and could be pursued concurrently.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington. The firm represents investors in FINRA arbitration claims throughout the country.
To learn more about the firm’s representation of investors, please visit www.whitesecuritieslaw.com. To learn about our recent claim involving GWG please see:
Tags: GWG holdings lawsuit, GWG L bonds, GWG L Bonds investigation, GWG L Bonds losses, Moloney Securities Co. complaints, Moloney Securities Co. GWG L Bonds, Moloney Securities Co. lawsuit Last modified: December 6, 2022