August 17, 2017 Comments (0) Current Investigations, Securities Fraud

Update: UDF Funds Unable to File Periodic Reports

UDF Funds
(Last Updated On: August 28, 2017)

UDF Funds haven’t filed financial statements since 2015

Have you suffered losses investing in UDF Funds? If so, the securities attorneys at The White Law Group may be able to help you recover your losses by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.

The four Texas REITs, have combined assets of $1.3 billion but have not issued financial reports since November 2015. Three are nontraded REITs while the fourth, UDF IV, was delisted by Nasdaq last fall and is currently trading on the OTC markets, according to reports.

On August 15, 2017, UDF Funds –United Mortgage Trust, UDF Funds III, LP, UDF Funds IV, and UDF Funds Income Fund V announced that they would be unable to timely file their Form 10-Qs for the quarter ending June 30, 2017.  The UDF Funds previously appointed EisnerAmper LLP as their new independent registered public accounting firm following the resignation of Whitley Penn LLP as the Funds’ independent registered public accounting firm in November 2015.

According to reports, the Funds indicated that they are working diligently to complete and file all necessary periodic reports as soon as possible.

Recovering Investment Losses in UDF Funds

The White Law Group continues to investigate the liability brokerage firms may have for selling UDF Funds.

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 the Funds, including UDF III and UDF IV.

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.

For more  detailed information on The White Law Group’s Investigation of United Development Funds, 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.