Investigation announced for Investors in shares of GWG Holdings, Inc. (NASDAQ: GWGH)

An investigation was announced over potential securities laws violations by GWG Holdings, Inc. in connection with certain financial statements.

Investors who purchased shares of GWG Holdings, Inc. (NASDAQ: GWGH), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by GWG Holdings, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Dallas, TX based GWG Holdings, Inc., a financial services company, provides various liquidity solutions and services for the owners of illiquid alternative assets in North America, Asia, Western Europe, Latin and South America, and internationally. GWG Holdings, Inc. reported that its annual Total Revenue rose from $92.27 million in 2019 to $124.37 million in 2020, and that its Net Income of $108.10 million in 2019 turned to a Net Loss of $153.91 million in 2020.

On January 18, 2022, GWG Holdings, Inc disclosed that its Annual Report will likely be filed “later than the March 31, 2022 due date” because of “the recently disclosed decision of its independent registered public accounting firm to decline to stand for reappointment.” GWG Holdings, Inc further disclosed that it “did not make the January 15, 2022 interest payment of approximately $10.35 million and principal payments of approximately $3.25 million with respect to its L Bonds” product and that it elected to “voluntarily suspend its L Bonds sales effective as of January 10, 2022.”

Then, on January 27, 2022, The Wall Street Journal reported that GWG Holdings, Inc received a subpoena in 2020 from the Securities and Exchange Commission's division of enforcement ordering the Company to produce documents. The paper also reported that an attorney who represents multiple L Bonds investors said that most of his clients are retail investors who bought the bonds after hearing a sales pitch that the products were safe and would offer a comfortable income stream for their retirement, but that “they were shocked to learn that their money was used to pay old investors while the company has been under SEC investigation.

Shares of GWG Holdings, Inc. (NASDAQ: GWGH) declined from $10.43 per share on December 31, 2021, to as low as $2.355 per share on January 27, 2022.

Those who purchased shares of GWG Holdings, Inc. (NASDAQ: GWGH) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.