The White Law Group continues to investigate potential claims involving brokerage firms’ improper sale of UDF IV. The firm has filed several FINRA arbitration claims involving UDF IV.
United Development Funding IV operates as a real estate investment trust (REIT) in the United States. The offices are located in Grapevine, Texas.
Bad News for Investors
The SEC launched an investigation into United Development Funding IV in 2014 after a hedge fund manager accused the REIT of a Ponzi-like scheme.
In February of 2016, the FBI raided UDF IV’s offices, seizing documents and computers after the company disclosed that it received a grand jury subpoena. The company’s stock was also suspended at that time.
Last May, the Nasdaq Stock Market LLC announced that it would delist the common shares of United Development Funding IV.
On November 14, the UDF IV announced that they will be unable to file their next 10-Q by the SEC’s deadline. UDF IV has not filed quarterly or annual reports dating back to the fourth quarter of 2015.
Recover your Investment Losses
The White Law Group has handled dozens of FINRA arbitration claims against brokerage firms involving improper sale of UDF investments, including UDF III and UDF IV.
Brokers have a fiduciary duty to perform due diligence on any investment. They must ensure that investment recommendations are suitable for the investor based on their client’s age, net worth, risk tolerance, investment experience and objectives, risk tolerance. If a broker overlooks suitability requirements, investors may have recourse to recover their losses through FINRA dispute resolution.
Did you suffer losses investing in United Development Funding IV (UDF IV) at the advice of your financial advisor? If so, the attorneys at The White Law Group may be able to help you recover your losses. For a free consultation, please call 1-888-637-5510.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information on The White Law Group, please visit our website at www.WhiteSecuritiesLaw.com.