[MDFlyer]

Originally Posted by mike1206?

Hello all, this is Michael L. Whitaker. As many of you know me personally, you know that I have served this community faithfully for 38 years and have always sought to put my clients’ interests first. While the attacks against me published on this forum by Mr. Hadaway (MDFlyer) are completely unfounded, they are still personally and professionally disturbing. In order to my clear my name, I have retained the law firm of Kaufman Dolowich & Voluck (“KDV”) in Fort Lauderdale, Florida to assist me in defending Mr. Hadaway’s claims. Hopefully, the following information from my counsel will assist in correcting some of the misstatements made by Mr. Hadaway on this forum.



Gregg Breitbart, a senior partner with KDV and the chair of its Financial Services Practice Group stated:

“Mr. Whitaker vehemently denies these defamatory accusations being made against him by Mr. Hadaway. Unlike Mr. Hadaway, we don’t intend to litigate this matter through blog posts. However, we are confident that the evidence in this case will establish, without doubt, that the investments that Mr. Whitaker recommended to Mr. Hadaway were all suitable and appropriate based on the information known at the time, and that the material risks and features of those investments were fully disclosed to Mr. Hadaway, and acknowledged by him in writing. The law requires that a financial professional like Mr. Whitaker have a “reasonable basis” to believe that a particular investment is suitable for a particular client, and it will be clear that Mr. Whitaker met that obligation here. The duty that Mr. Hadaway seeks to impose on Mr. Whitaker -- to accurately predict or guarantee the future performance of investments – does not, and cannot, exist.”



Zachary Hayes-Macaluso, an associate in KDV’s Financial Services group further stated as follows: “The fact is that all investments carry some risk, and not every investment will be profitable. Indeed, while Mr. Hadaway complains about a single investment that did not perform as expected, he is noticeably silent about the numerous other investments that Mr. Whitaker recommended to him that have performed well and yielded him profits. As such, we think that Mr. Hadaway’s use of this blog in an effort to smear the professional reputation of Mr. Whitaker is misguided and unfair, and Mr. Whitaker reserves all rights in connection therewith.”



With respect to the information posted here regarding investments in GWG, GWG is currently in the midst of Chapter 11 bankruptcy proceedings which seek to maximize the value of that company’s assets for its creditors, including the holders of its L Bonds. In fact, creditors of GWG are currently voting on a Chapter 11 plan that, if approved, is likely to result in material distributions to bondholders. (A court hearing to determine if that plan will be approved is currently scheduled for June 15, 2023.) While it is unfortunate that some of my clients have been impacted by events effecting GWG, I have continued to communicate with those clients regarding the status of their investments and any additional information as it becomes available. If you are interested in accurate information regarding the bankruptcy proceedings of GWG, this is the website where all such information and updates are posted publicly: Home - GWG Holdings, Inc., et al..



I am eternally grateful for the trust and confidence my clients have placed with me, and I hope this additional information puts to rest some of the false claims that have been posted about me recently on this forum.

Sincerely,
Michael L. Whitaker

Questions for Michael L Whitaker. 1. Did you own stock (L Bonds) in GWG? 2. When did you and or your family sell the investments in GWG? 3. Did you know that GWG was in trouble when you told your clients not to sell their investments in GWG? I don't expect answers to these questions as Michael L Whitaker only posts when he thinks it is to his advantage or when he wants to OUT someone.