The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of Texas on behalf of investors who purchased GWG Holdings, Inc. (OTC: GWGHQ) GWG’s L Bonds or Preferred Sto between December 23, 2017 and April 20, 2022.
According to the GWG Holdings, Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Defendants intended to, and did, misappropriate GWG assets, (ii) GWG’s life insurance investment business had failed, and (iii) GWG could only repay prior investors by issuing increasing amounts of securities to new investors. In essence, Defendants had turned GWG into a Ponzi scheme.
If you suffered a loss in GWG Holdings, Inc. you have until June 2, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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