Tr?id=566623520170033&ev=PageView&noscript=1

GWG Senior Executives Resign Amidst Bankruptcy

Posted on November 29th, 2022 at 2:02 PM
GWG Senior Executives Resign Amidst Bankruptcy

GWG Holdings, the financial services firm that is facing Chapter 11 bankruptcy, has announced that the company’s chief executive officer, Murray Holland, and the company’s chief financial officer, Timothy Evans, have each resigned as executive officers. However, Holland and Evans remain as members of the board of directors of GWG. 

Furthermore, GWG has submitted an amended 8-k filing with the Securities and Exchange Commission (SEC). According to the filing, the investigations committee of the current board of directors reported that GWG had previously falsely reported that the resignations of former board members Roy Bailey, Daniel Fine, and Jeffrey MacDowell in March 2021 were not related to disagreements with GWG. The investigations committee informed the current board that the resigning officers had taken issue with certain parameters of a proposed investment GWG was contemplating, according to the updated filing. 

GWG has faced a series of resignations after the company filed for Chapter 11 bankruptcy in April 2022. GWG was involved in an SEC investigation earlier this year relating to how its L bonds were marketed to clients, which helped pave the path to bankruptcy as GWG struggled to raise additional capital. Shares of GWG have fallen from $10.55 to $1.03 over the past 12 months. 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

Tags:

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

We just wanted to say thanks for your work in helping us get back some of the money we lost. We are not by any means rich, but we have saved some money and we have done so through a tight-fisted approach to most everything we do. So losing a significant chunk of money hurt…especially at a time when everyone else was growing their accounts. We really appreciate the work you did.

Allan and Adele

LATEST NEWS AND ARTICLES

1787592120 Law
August 24, 2026
Sophisticated Voice Phishing Attacks Target Major Wall Street Firms

According to ThinkAdvisor, hackers recently launched a series of sophisticated cyberattacks against major Wall Street firms, including prominent hedge funds and private equity companies.

1787342003 Law
August 21, 2026
Rising Market Leverage Raises Concerns About Financial Stability Despite Low Volatility

The leverage that has helped drive the U.S.

1787244289 Law
August 20, 2026
FinCEN Imposes Record $125 Million Penalty on UBS Financial Services

The Financial Crimes Enforcement Network (FinCEN) has imposed a $125 million civil money penalty against UBS Financial Services Inc.