IMPORTANT NOTICE TO CUSTOMERS OF TONY BAROUTI/EMERSON EQUITY WHO PURCHASED GWG L BONDS

GWG L Bond Losses with Tony Barouti/Emerson Equity? Contact KlaymanToskes Immediately

LOS ANGELES, CA, USA, May 22, 2024 /EINPresswire.com/ -- National investment loss and securities attorneys KlaymanToskes continues investigating Emerson Equity and financial advisor Tony Barouti, after his recommendations of GWG L Bond investments caused an elderly couple $290,000 in damages. The law firm urges all current and former customers of Tony Barouti and Emerson Equity who suffered investment losses in GWG L Bonds, or any other investments, to contact the firm immediately at 888-997-9956.

KlaymanToskes reports the law firm has filed a FINRA arbitration claim (no. 24-01056) against Emerson Equity on the behalf of two elderly investors who are seeking to recover $290,000 in investment losses, in connection with being recommended to invest in unsuitable and illiquid GWG L Bond investments by their financial advisor, Tony Barouti (CRD# 3031995).

Brokerage firms like Emerson Equity are required to conduct reasonable due diligence into the products they sell. KlaymanToskes’ investigation found that Emerson Equity, as the managing broker-dealer for GWG’s offering, ignored a multitude of red flags associated with GWG for several years, which rendered the L Bonds unsuitable and very high-risk, but especially for elderly and retired investors seeking conservative investments.

Additionally, Emerson Equity and its financial advisors had a conflict of interest in the sale of the L Bonds, as the firm and its representatives received commissions ranging from 0.75% to 5.00% of the principal amount of L Bonds sold, depending on the L Bonds’ maturity date, as well as other forms of compensation.

In April 2022, GWG Holdings, Inc. filed for bankruptcy, suspended monthly dividends, and left investors without access to their principal. Most recently, on January 29, 2024, financials were filed with the bankruptcy court by the GWG Wind Down Trustee which confirmed that L bondholders will only receive a small fraction of their investments from the bankruptcy. Accordingly, it is in bondholders’ best legal interest to maximize their recovery of losses by filing FINRA arbitration claims against the brokerage firms and financial advisors who sold these unsuitable products, such as Emerson Equity.

Current and former customers of Tony Barouti who suffered losses in GWG L Bonds and/or any other investments at Emerson Equity are encouraged to contact attorney Steven D. Toskes, Esq. 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

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

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