GWG Holdings announced its bankruptcy earlier this year, which has resulted in the resignations of multiple members of its board of directors.
The former president and chief executive officer, Murray Holland, resigned as an executive officer of the company in November. Further, the investigations committee of the current board of directors has reported in an amended 8-k filing with the SEC that the company previously had falsely reported that the resignations of former board members were not a result of any disagreements with the company. According to the amended filing, however, the resignations of Roy Bailey, Daniel Fine, and Jeffrey MacDowell in March 2021 occurred primarily due to disagreements with GWG.
The investigations committee notified the current board that the resigning executives had taken issue with certain terms of a potential investment GWG was considering, according to the amended filing. Holland additionally submitted a letter to the board noting his disagreement with the findings of the board’s investigation committee. Independent directors Tony Horton and Jeffrey Stein, the company’s president, chief executive officer and chief restructuring officer, respectively, remain on GWG’s board of directors.
Did your broker recommend GWG-Issued L Bonds or other investments such as non-traded REITS without explaining the risks? If so, you have a right to file a FINRA Securities Claim.
For a free case evaluation, email attorney Mark A. Tepper at askmark@marktepper.com, telephone him at 954-961-0096. Remember, you have a limited time to file an investment loss recovery claim.
About Mark A. Tepper, P.A.
Attorney Mark A. Tepper has earned the reputation of “Investor Advocate” while practicing law for over 40 years representing individual investors. FINRA arbitrators have upheld stockbroker fraud Claims filed by Mr. Tepper against many brokerage firms. A member of the Florida, New York and California Bars, Mr. Tepper is peer-reviewed for 21 consecutive years as AV PREEMINENT® for ethical standards and legal ability. It’s the highest rating of lawyers in the Martindale-Hubbell Law Directory.
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