Former officers of the bankrupt bond seller GWG Holdings Inc. got three securities claims dismissed in a potential class action against them, when a federal court said the lead plaintiff didn’t allege enough details about the sale and purchase of the bonds at issue.
But the win may be short lived because Judge Jane J. Boyle of the US District Court for the Northern District of Texas gave plaintiff Frank Moore 21 days to file an amended complaint correcting the deficiencies.
In 2020, GWG partnered with Beneficient Co. Group LP to issue bonds that Moore and other purchased. After GWG ...
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