The White Law Group announces the filing of another FINRA Lawsuit involving GWG L Bonds
The White Law Group announces the filing of a FINRA Arbitration claim against G. A. Repple & Co. submitted on behalf of a North Dakota family, alleging violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision.
The claim further alleges that G. A. Repple & Company unsuitably invested its clients in GWG L Bonds, securities sponsored by GWG Holdings, a Dallas-based financial services firm. GWG Holdings, Inc filed for Chapter 11 bankruptcy protection on April 20, 2022 after failing to make $13.6 million in interest payments to bondholders in January. The FINRA claim seeks damages in an amount between $100,000 and $250,000.
It is further alleged that G. A. Repple & Company LLC failed to perform the necessary due diligence on GWG L Bonds prior to recommending them to these particular investors.
Before recommending an investment, a broker-dealer has a fiduciary duty to adequately disclose the risks involved in the investment and to perform the necessary due diligence to determine whether the investment is suitable for the investor.
According to D. Daxton White, managing partner of The White Law Group, “It is unfortunate, but we believe that many more investors have suffered devastating losses involving GWG L Bonds due to the broker-dealer’s failure to supervise and don’t realize they have recovery options.”
“Brokerage firms are required to supervise their advisors to ensure that they are complying with FINRA rules. If it can be determined that the financial advisor violated FINRA rules and the employers failed to adequately supervise him, these firms can be held responsible for any resulting losses in a FINRA arbitration claim.”
FINRA Claims to Recover GWG Losses
FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial professional. It provides investors with an opportunity to attempt to recoup their investment losses without filing such claims in court.
Our firm has represented numerous investors seeking relief from financial losses after their brokerage firm recommended an unsuitable investment in GWG L Bonds. To learn more about our claims please see: FINRA Lawsuit filed against Emerson Equity LLC involving $2.5 Million in GWG Bonds
To learn more about our investigation of GWG Holdings, please see:
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington. For more information The White Law Group and the lawsuit filed against G. A. Repple & Company LLC, please contact the firm at 1-888-637-5510 or visit https://www.whitesecuritieslaw.com.