IMPORTANT NOTICE TO CUSTOMERS OF MICHAEL WHITAKER AND NEWBRIDGE SECURITIES WHO SUFFERED LOSSES IN GWG L BONDS

If You Suffered Losses With Financial Advisor Michael Whitaker at Newbridge Securities Please Contact the Law Firm of KlaymanToskes

THE VILLAGES, FL, UNITED STATES, June 6, 2025 /EINPresswire.com/ -- National investment loss and securities law firm KlaymanToskes issues an important notice to customers of former financial advisor Michael Whitaker and Newbridge Securities, after their recommendations of GWG L Bonds caused a retired investor to suffer significant damages. The law firm urges all customers of Michael Whitaker and Newbridge Securities who suffered investment losses to contact the firm immediately at 888-997-9956.

KlaymanToskes reports the law firm has filed a FINRA arbitration claim (Case No. 25-00823) against Newbridge Securities on behalf of a retired investor seeking to recover $50,000 in damages, in connection with being recommended to invest in unsuitable and illiquid GWG L Bonds, by his financial advisor Michael Whitaker (CRD# 6316100).

According to the claim filed by KlaymanToskes, Michael Whitaker and Newbridge Securities allegedly misrepresented GWG L Bonds as safe, income-generating investments with principal protection, when in reality the L Bonds were speculative, illiquid, and carried significant risk. The claim further alleges that Newbridge Securities failed to conduct the reasonable due diligence required by FINRA Regulatory Notice 10-22 prior to recommending GWG L Bonds to the investor.

In April 2022, GWG Holdings filed for Chapter 11 bankruptcy, leaving more than 25,000 L Bond investors unable to access their principal. Investors are now expected to recover only a small fraction of their investment—approximately 3%—in the Bankruptcy. KlaymanToskes alleges that the investor in this case, like thousands of others, was led to believe his investments in GWG L Bonds were safe, income-producing, and protected.

KlaymanToskes 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, including Newbridge Securities.

Customers of Michael Whitaker and/or any other financial advisor who suffered investment losses in GWG L Bonds, or any other investments at Newbridge Securities 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 $600 million in Securities Litigation and FINRA Arbitration 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