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

I am grateful to have found an outstanding law firm that specializes in securities matters. My lawyers were extremely knowledgeable, diligent, and are skilled litigators. No stone was left upturned. As a result of their experience and tenacity, the arbitration proceeding was dismissed in my favor.

Michael E.

LATEST NEWS AND ARTICLES

1781539717 Law
June 15, 2026
New York Insurance Agent Pleads Guilty to $50 Million Ponzi Scheme

A New York insurance agent and tax preparer has pleaded guilty to operating a Ponzi scheme that allegedly defrauded nearly 1,000 investors out of more than $50 million over several decades, according to a report by InvestmentNews.

1781279618 Law
June 12, 2026
FINRA Suspends Former LPL Broker Over Undisclosed Outside Business Activity

The Financial Industry Regulatory Authority (FINRA) has imposed a $5,000 fine and a 45-day suspension against former LPL Financial broker James R.

1781195016 Law
June 11, 2026
FINRA Suspends Former Raymond James Representative for Improper Account Conversions and Unauthorized Trading

The Financial Industry Regulatory Authority (FINRA) sanctioned Paul D.