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

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

DENVER, CO, UNITED STATES, November 27, 2024 /EINPresswire.com/ -- National investment loss and securities attorneys KlaymanToskes continues investigating Lifemark Securities after the brokerage firm’s recommendations to invest in GWG L Bond investments caused an unsophisticated and retired investor to suffer $50,000 in damages. The law firm urges all customers of Lifemark Securities who suffered losses in GWG L Bonds to contact the firm immediately at 888-997-9956.

KlaymanToskes reports the firm has filed a FINRA arbitration claim (Case no. 24-02490) against Lifemark Securities on the behalf of an investor who is seeking to recover damages of $50,000, in connection with being recommended to invest in unsuitable and illiquid GWG L Bond investments.

According to the lawsuit filed by KlaymanToskes, the customer is a retired and unsophisticated investor whose objective was to create a portfolio that would provide for her retirement years. The customer sought to purchase low risk, income producing investments. Lifemark Securities represented to the customer that the interest rate of the L bonds was guaranteed and that there was no market risk as the L Bonds did not trade on the stock market. The customer was led to believe that she would receive monthly income and that at the maturity of the L Bond, she would receive her principal back.

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 Lifemark Securities are required to conduct reasonable due diligence into the products they sell. KlaymanToskes’ investigation found that Lifemark Securities ignored years of red flags clearly evidencing GWG Holdings, Inc.'s financial distress at the time of its unsuitable recommendation to the customer.

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 Lifemark 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