SHAREHOLDER ALERT: Law Firm Pomerantz Investigating Claims on Behalf of GWG Holdings, Inc. Investors – GWGH |
NEW YORK, January 28, 2022 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors in GWG Holdings, Inc. (“GWG” or the “Company”) (NASDAQ: GWGH). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation focuses on whether GWG and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
At January 18, 2022, GWG revealed that its annual report will likely be filed “later than the March 31, 2022 due date” due to “the recently disclosed decision of its registered independent accounting firm to decline to seek re-election.” The company further disclosed that it “did not make the January 15, 2022 interest payment of approximately $10.35 million and principal repayments of approximately $3.25 million regarding its L Bonds product” and that it has chosen to “voluntarily suspend its sales of L Bonds as of January 10, 2022.”
At this news, GWG’s stock price plummeted. $2.17 per share, or 27.7%, to close at $5.65 per share on January 18, 2022.
The firm Pomerantz, with offices in New York, Chicago, Los Angeles, and Paris is recognized as one of the leading firms in the areas of corporate litigation, securities and antitrust. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz was a pioneer in the field of securities class actions. Today, more than 80 years later, the Pomerantz Company continues the tradition he established, fighting for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm recovered numerous multimillion-dollar damages on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP