Just as Emerson Equity filed a report with the SEC predicting potential financial trouble as a result of GWG Holdings' bankruptcy, 10 of 14 wholesalers at Emerson cut ties with the firm since the start of 2022, signaling further trouble for the firm and its customers who purchased GWG Holdings' risky and illiquid L Bonds offering.
According to InvestmentNews, the San Mateo, California-based Emerson Equity continues to plunge into fiscal darkness, reporting problems to the SEC via an annual filing that stated, "In 2022,there was an offering that ceased distributions and redemptions and, as a result, this may have an adverse effect on the future financial condition or results of operations of the Company."
That offering, of course, is the GWG Holdings L Bond that was unsuitably sold to many retail customers. Why Emerson Equities is unable to say "GWG" after selling its securities for so long is a mystery.
If you invested with Emerson Equity or with any firm, broker, or financial adviser who unsuitably recommended you acquire the complex, risky, and illiquid GWG Holdings L Bonds product, which since filed for bankruptcy and has resulted in massive losses nation-wide, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.