IMPORTANT NOTICE TO MOLONEY SECURITIES CUSTOMERS WHO PURCHASED GWG L BOND INVESTMENTS

Did Your Moloney Securities Financial Advisor Recommend Investments in GWG L Bonds? Contact KlaymanToskes Immediately

LOS ANGELES, CA, UNITED STATES, November 27, 2024 /EINPresswire.com/ -- National investment loss and securities attorneys KlaymanToskes continues investigating Moloney Securities after the brokerage firm’s recommendations of GWG L Bond investments caused an investor to suffer $200,000 in damages. The law firm urges all customers of Moloney Securities who suffered losses in GWG L Bonds to contact the firm immediately at 888-997-9956.

KlaymanToskes reports the law firm has filed a FINRA arbitration claim (Case no. 24-01235) against Moloney Securities, on the behalf of a retired investor who is seeking to recover damages of $200,000, in connection with being recommended to invest in unsuitable and illiquid GWG L Bond investments.

According to the lawsuit filed by KlaymanToskes, Moloney Securities represented that the GWG L Bonds would provide monthly income and the return of principal at maturity. As the GWG L Bonds were illiquid and unlisted, there were significant risks that were not disclosed to the customer.

In April 2022, GWG Holdings, Inc. filed for bankruptcy, suspending their monthly dividends and leaving investors without access to their principal. GWG L bondholders are owed over $1.3 billion, however, GWG’s ability to monetize its assets remains highly uncertain and unlikely.

Brokerage firms like Moloney Securities are required to conduct reasonable due diligence into the products they sell. KlaymanToskes’ investigation found that Moloney Securities ignored a multitude of red flags associated with GWG for several years, which rendered the L Bonds as high-risk and speculative.

KlaymanToskes believes bondholders’ ideal option to maximize their recovery of losses is through the filing of a FINRA arbitration claim. The law firm is currently representing many GWG L Bondholders throughout the nation in FINRA arbitration claims against the brokerage firms and financial advisors that recommended the speculative L Bonds.

Current and former customers of Moloney Securities who suffered investment losses in GWG L Bonds and/or any other investments are encouraged to contact attorney Steven D. Toskes at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.

About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.

Contact

Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com