- July 6, 2018
- REIT
The Wolper Law Firm is investigating claims relating to United Development Funding III and United Development Funding IV Real Estate Investment Trusts (REIT), publicly traded REITs. If you are an investor in these REITs, contact the Wolper Law Firm for a free consultation to discuss your legal options.
On July 3, 2018, the Securities Exchange Commission (SEC) filed a complaint against United Development Funding III and IV, as well as some of their senior executives, alleging several violations of federal securities laws. Specifically, it is alleged that United Development Funding misled investors in connection with the capital raise and use of funds for its REITs. The SEC complaint follows a Well Notice that was served on United Development Funding in 2016. Upon filing the complaint, an agreement was reached with the SEC to resolve the dispute in which UDF officials will have to, among other things, pay $8.2 million in civil penalties and disgorge ill gotten profits.
A full copy of the SEC complaint is below:
https://www.sec.gov/litigation/complaints/2018/comp24185.pdf
UDF is a publicly traded REIT that invests in secured loans for the acquisition and development of residential real estate in desirable markets. According to their website, “United Development Funding IV provides investors with an opportunity to diversify their portfolios with unique and fundamentally sound investments in affordable residential real estate.”
If you or someone you know invested in the United Development Funding III or United Development Funding IV Real Estate Investment Trust, and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at mwolper@wolperlawfirm.com to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.
Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyers who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. His industry insight, experience and knowledge gives his client’s a competitive advantage.
Attorney Matthew Wolper
Matt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. Mr. Wolper has handled hundreds of securities matters nationwide before the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (“AAA”), JAMS, and in state and federal court. Mr. Wolper has handled and tried cases involving complex financial products and strategies ranging from traditional stocks and bonds to options, margin and other securities-based lending products, closed/open-end mutual funds, structured products, hedge funds, and penny stocks. [Attorney Bio]