Beneficient responds to claims made by gwg litigation trustee

Dallas, april 22, 2024 (globe newswire) -- beneficient (nasdaq: benf), a technology-enabled platform providing liquidity, primary capital, and related trust and custody services to holders of alternative assets through its proprietary online platform, altaccess, issued the following statement in response to a complaint filed on april 19, 2024 by the trustee of the gwg litigation trust (“litigation trustee”): beneficient is disappointed but not surprised that the litigation trustee has decided to file suit against beneficient, affiliated entities, and its officers and directors. the litigation trustee crafted a deliberately selective reading of complex and permissible business transactions, negotiated at arm's length that spanned many years as gwg holdings sought to implement its disclosed business strategy to diversify away from its concentrated investment in life insurance policies.
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