Kirby McInerney LLP Announces an Investigation of Shareholder Claims on Behalf of GWG Holdings, Inc. (GWGH) Investors
NEW YORK–(BUSINESS WIRE)–$GWGH–The law firm of Kirby McInerney LLP is investigating potential claims against GWG Holdings, Inc. (“GWG” or the “Company”) (NASDAQ: GWGH). The investigation concerns whether GWG has violated the federal securities laws and/or engaged in other unlawful business practices.
GWG is a financial services firm based in Dallas that sells life-insurance bonds.
On January 18, 2022, the Company 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.” The Company 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.” On this news, GWG’s stock price declined by $2.17 per share, or approximately 27.7%, from $7.82 per share to close at $5.65 per share on January 18, 2022.
If you purchased or otherwise acquired GWG securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
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