According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- they intended to misappropriate GWG assets;
- GWG’s life insurance investment business had failed; and
- GWG could only repay prior investors by issuing increasing amounts of securities to new investors. In essence, Defendants had turned GWG into a Ponzi scheme.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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