United Development Funding Income Fund V (“UDF V”) terminated its offering of shares and deregistered the programs’ remaining shares that were not sold, according to documents filed with the Securities and Exchange Commission. UDF V announced the plan to terminate the offering after Eustice Mite resigned from the program’s board of trustees. The Peiffer Rosca Wolf securities attorneys are investigating these new developments in the unfolding United Development Funding saga.
UDF V’s offering termination and Eustice Mite’s resignation come after United Development Funding faces increased scrutiny from federal law enforcement and the investing public. On February 18, 2016, the Federal Bureau of Investigation raided the United Development Funding office in Texas. Later that same day, trading in United Development Funding IV was suspended.
Peiffer Rosca Wolf Securities Attorneys Preparing to File Several Cases on Behalf of UDF Investors
Nearly 100 UDF investors have contacted the Peiffer Rosca Wolf securities lawyers regarding their UDF investments. The Peiffer Rosca Wolf lawyers Alan Rosca and his colleagues have been working to prepare pleadings on behalf of UDF investors, and are in process of finalizing and filing several cases to seek compensation for UDF investor losses.
If you believe you lost money as a result of your investment in any United Development Funding program, especially UDF V and UDF IV, you may be able to help recover losses you have suffered. We are seeking to assist United Development Funding investors who invested before 2014 in addition to those who invested in 2014 and later. The Peiffer Rosca Wolf investor rights lawyers take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of their United Development Funding investment may contact the investor rights lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520, via email at firstname.lastname@example.org, or through the contact form on this website.