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GWGHQ.US

GWG Holdings (GWG) Fraud Case

N.D. Texas
Court
23-CV-00680
Case number
23 Dec 2017
Class period Start
20 Apr 2022
Class period End
On February 20, 2022, GWG filed for bankruptcy. GWG investors have not received the payments to which they are entitled since at least February 2022.

On this news, GWG's stock price fell over 30%, seriously damaging investors.

Earlier, On January 18, 2022, GWG disclosed that it was unable to make certain required payments to its investors.

Based on all available information and evidence, it appears that the Leaders of the Company may have utilized GWG as a vehicle for perpetrating a Ponzi scheme. Investors have legitimate grounds to believe that the Leaders diverted hundreds of millions of dollars in GWG investor funds for personal gain, while also causing significant harm to the company's finances. This included rendering GWG unable to fulfill its obligations to investors, greatly reducing the value of GWG securities, and ultimately leading to the company's bankruptcy.
Alleged Offence
Mismanagement
Financial Misrepresentation
Fraud
Price manipulation
Malpractice
Negligence
Breach of Fiduciary duty
Suspected Party
Directors
Management
Shareholder
Investment Bank
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
20 April 2022
Filing date
30 March 2023
Lead Plaintiff Deadline
30 May 2023
Judge
Hon. Sidney A Fitzwater
Collecting participants…
Created by Stan Vick, Scout

GWG Holdings Inc

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 S...

    Ticker
    GWGHQ.US
    CIK
    0001522690
    Sector
    Financial Services
    Industry
    Insurance - Life
    Country
    USA
    Address
    325 North St. Paul Street, Dallas, TX, United States, 75201