Have you suffered investment losses in United Development Funding III? If so, the securities attorneys of The White Law Group may be able to help you recover your losses by filing a FINRA Dispute Resolution claim against the brokerage firm that sold you the investment.
According to files with the SEC, United Development Funding III was formed primarily to generate current interest income by investing in mortgage loans. The fund was registered with the SEC in 2005.
Unfortunately, some investors who purchased United Development Funding III may not have been aware of the risk and lack of liquidity of the fund. The prospectus warns that no public market exists to sell limited partnership units and that investors should purchase units only if they can offer complete loss of their investment.
According to LPsales.com, a secondary market for private placements, shares of United Development Funding III recently sold for $17.40 per unit in December 2014.
Broker dealers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor. The investor’s age, risk tolerance, net worth, and investment experience should all be taken into consideration. Brokers that fail to do so, may be held responsible for any losses.
To determine whether you may be able to recover investment losses incurred as a result of your purchase of United Development Funding III, please contact The White Law Group at (312) 238-9650 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida. For more information on the firm, visit www.WhiteSecuritiesLaw.com.