​On Thursday, United Development Funding IV (“UDF IV”) issued a press release stating that it received notice on May 26, 2016, from NASDAQ that the NASDAQ determined to delist UDF IV securities unless UDF IV met certain conditions. In the press release, UDF IV indicated that NASDAQ determined that UDF IV was not in compliance with certain stock exchange rules, and in particular the rule requiring that UDF IV file all required documents with the Securities and Exchange Commission (“SEC”). As of June 2, 2016, UDF IV has filed neither an annual report for the year ended December 31, 2015, nor a quarterly report for the first quarter of 2016. UDF IV has requested a stay of suspension and believes NASDAQ will provide notice regarding that request by June 17, according to the relase.

​According to the press release, NASDAQ staff indicated that they were concerned with separate investigations into UDF by both the SEC and the Federal Bureau of Investigation (“FBI”). It has been widely reported that the FBI raided UDF’s headquarter on February 18, 2016, and that the SEC has been investigating UDF IV since 2014. UDF IV disclosed in a late 2015 filing that its previous auditor declined to stand for reappointment. As of June 2, UDF IV still has not engaged a new auditing firm. The press release also noted that UDF IV securities trading has been halted since February 18, 2016, and “no assurance can be given regarding the resumption of regular trading of [UDF IV] securities on any market.

​The Peiffer Rosca Wolf securities attorneys, Alan Rosca and Joe Peiffer, have been investigating UDF IV and have reviewed UDF IV’s latest press release and its recent SEC filings. The firm has been contacted by over 150 investors in UDF and has been retained by dozens of individuals to pursue claims. They often take cases of this type on a contingency-fee basis and only get paid out of funds they recover on behalf of investors.

Investors who believe they have lost money as a result of their investments in UDF IV may contact Alan Rosca or Joe Peiffer, toll-free at 888-998-0520, by email at arosca@prwlegal.com, or through the contact form on this website. An attorney often responds to inquiries through the website within an hour.

2 Responses to “United Development Funding IV Issues Press Release Stating NASDAQ Determined To Delist Shares; Peiffer Rosca Wolf Attorneys Investigating”

  1. Glenda P. Boger

    I invested $25,000 in a UDF I have learned of the investigation that possibly is a Ponzi scheme . Is there any recourse of possibly getting my investment back or was this an investment through my financial advisor That should have been checked out more thoroughly? I invested before 2014. & now do not receive any interest & am told I may lose all of my investment.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *