Moloney Securities Customers: KlaymanToskes Files $1,000,000 Customer Complaint for GWG L Bond Investment Losses

NEW YORK, NY, USA, January 11, 2024 /EINPresswire.com/ -- National investment loss attorneys KlaymanToskes reports the firm’s continued investigation of Moloney Securities, following the filing of a $1,000,000 FINRA Arbitration claim on behalf of a GWG L Bond investors seeking to recover investment losses. Customers of Moloney Securities who have suffered investment losses due to GWG L Bonds and/or other alternative investments should contact the firm immediately at 888-997-9956 to discuss alternative recovery options.

KlaymanToskes recently filed a FINRA arbitration claim (no. 23-03092) against Moloney Securities, and financial advisor Robert Vance, on the behalf of two retirees who are seeking to recover damages of up to $1,000,000 in connection with being recommended to invest in unsuitable, high-risk alternative investments, including illiquid GWG L Bonds.

In April 2022, GWG Holdings, Inc. filed for bankruptcy, suspending their monthly dividends and leaving investors without access to their principal. In August 2023, the GWG L Bonds were canceled, and investors were issued “Interests” in the Wind Down Trust. The value of the Interests and timeline for the bankruptcy’s resolution remain uncertain.

The L bonds were marketed by many brokerage firms, including Moloney Securities, as safe and low-risk investments that were instead illiquid, high-risk, and speculative. Financial professionals and their firms can be held accountable for investment losses incurred by customers if the investment was unsuitable for the customer’s risk tolerance and objectives, or if they misrepresented the nature of the investment.

It is KlaymanToskes’ opinion that L Bondholders will NOT likely obtain a significant recovery from the bankruptcy proceeding and what they do receive will take significant time to recover. The law firm encourages bondholders to maximize their recovery of losses by filing FINRA arbitration claims against the brokerage firms and financial advisors who sold these illiquid investments, such as Moloney Securities.

GWG L Bondholders who suffered losses at Moloney Securities and/or any other brokerage firm, are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lawrence@klaymantoskes.com for a free and confidential consultation to discuss legal options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.

About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration 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

Lawrence L. Klayman, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
lawrence@klaymantoskes.com

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