Concerned about investment losses in United Development Funding III?
If you suffered losses investing in United Development Funding III we may be able to help. The securities attorneys of The White Law Group are investigating potential FINRA Dispute Resolution claims against the brokerage firms that sold the investment.
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 you should purchase units only if you can afford complete loss of your investment. Furthermore the prospectus points out that no public market exists to sell limited partnership units and goes on to state, ” if you are able to sell your units, you would likely have to sell them at a substantial discount.
According to LPsales.com, a secondary marketplace for limited partnerships, units of United Development Funding III selling for $10.55 as of February 2016. That’s nearly half the original purchase price of $20.00 per unit.
Brokerage firms that sold United Development Funding III had a fiduciary duty to make suitable investment recommendations that were inline with your risk tolerance, investment objectives and financial needs. In addition, firms are required to adequately disclose the risks associated with the investment and perform the necessary duediligence to determine whether the investment had a reasonable likelihood of success
If your brokerage firm failed to perform the necessary due diligence or failed to disclose the risks involved, you may have a claim to attempt to recover your investment losses through FINRA arbitration.
If you invested in United Development Funding III or another United Development Funding partnership and would like to speak with a securities attorney about your litigation options, please call The White Law Group at 1-888-637-5510 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.