December 31, 2016 Comments (0) Blog

United Development Funding IV Appeals Delisting

KBS REIT
(Last Updated On: February 8, 2017)

Concerned about investment losses in United Development Funding IV?

Are you concerned about your investment losses in United Development Funding IV (UDF IV)? If so, The White Law Group may be able to help you recover your losses through FINRA arbitration.

United Development Funding IV is a Maryland real estate investment trust that was previously listed on The NASDAQ Global Select Market. UDF IV was formed primarily to generate current interest income by investing in secured loans and producing profits from investments in residential real estate.

On December 30, 2016, United Development Funding IV (UDF IV) reported that it had submitted information in support of its appeal to the Nasdaq Listing and Hearing Review Council regarding the October 17, 2016 trading suspension and delisting notice received from Nasdaq.  The suspension and delisting notice were based upon UDF IV’s failure to file its 2015 annual report and subsequent quarterly reports for the quarters ending March 31, June 30, and September 30, 2016.  UDF IV has until March 10, 2017 to make the required quarterly and annual filings to regain compliance with Nasdaq listing requirements.

UDF IV reported that on December 23, 2016 the company filed a response with the SEC following the receipt of Wells Notices from the SEC’s Division of Enforcement.

Additionally, UDF IV noted that lines of credit and notes payable had been reduced from approximately $170.9 million as of September 30, 2015 to approximately $18.4 million as of December 30, 2016.

Recovery Options

Investors who purchased UDF investments in reliance upon the recommendation of a broker-dealer firm may be eligible to pursue claims in arbitration against the firm and seek compensation for any losses they suffered as a result of those investments.

Brokers have a fiduciary duty to perform due diligence on any investment and to insure that investment recommendations are consistent with their client’s age, net worth, risk tolerance, investment experience and objectives, risk tolerance. If a broker overlooks suitability requirements, investors may have an actionable claim to recover their losses in a product in a claim through FINRA dispute resolution.

The White Law Group has handled dozens of FINRA arbitration claims against brokerage claims involving those firms improper sale of UDF investments, including UDF III and UDF IV. For more information on the investigation, see United Development Fund IV (UDF IV) Delisted by NASDAQ.

For a free consultation with a securities attorney, please call The White Law Group at 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.