February 22, 2016
United Development Funding IV announced today in a filing with the Securities & Exchange Commission that the FBI raided their office in Grapevine last week and that they are in receipt of subpoenas from a grand jury for the U S District Court for the Northern District of Texas seeking company documents.
The share price of UDF IV has dropped from just over $17 in December 2015 to barely over $3 when trading was halted last week.
UDF IV 90 Day Chart
Recovery Option for Investors Who Suffered Losses
on UDF Investments
Brokers have a duty to make suitable recommendations to investors. You may be able to recover damages from the brokerage firm that sold you the investment if the recommendation was not suitable for you taking into account your age, health and level of financial sophistication.
Brokers also have a duty to conduct an independent due diligence review of investments before offering the product for sale.
Call to discuss how you may be able to recover damages through FINRA arbitration, a process much more expedient & efficient than court litigation.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Florida-561 391 1900