UDF IV investors, together with investors in other UDF programs including UDF V and UDF III, continue to file claims against their broker-dealer firms through the Peiffer Wolf Carr & Kane law firm.

The Peiffer Wolf Carr & Kane law firm’s securities lawyers have been filing new cases on behalf of UDF investors harmed by their investment in several UDF programs.  Their focus is on the securities broker-dealer firms that improperly sold UDF products to their customers.

The Peiffer Wolf Carr & Kane attorneys are handling a large and growing number of claims for investors who bought UDF products that were unsuitable for their investment goals and needs, and that were not subjected to meaningful due diligence by the broker-dealers. Many of these claims are still pending, but some of the earliest-filed claims have already been resolved. Each case is, of course, different and its resolution depends on its own merits; past successes are not indicative of future results.

Attorney Jason kane, who is overseeing the cases on behalf of UDF investors, noted that “brokerage firms have a duty to ensure that investments they recommend to their customers are suitable for investors’ investment profile. They also have a duty to ensure that they have a reasonable basis before recommending any investment product to members of the investing public. We will continue to hold liable those investment firms that fail to fulfill these duties to their customers.”

Investors who believe they lost money invested in UDF may contact the attorneys at Peiffer Wolf Carr & Kane, Jason kane, James Booker, or Greg Gipson, at 216-589-9280, or via email at jkane@prwlegal.com for a free, no-obligation evaluation of their recovery options. Contingency fee representation is available, with no down payment. The Peiffer Wolf Carr & Kane law firm typically advances the case costs and only gets paid for the costs it advanced and its fees if and when it recovers money for the clients.

One Response to “UDF Investors Represented by the Peiffer Wolf Carr & Kane Securities Lawyers Pursuing More Securities Broker-Dealer Firms for Improper Sales of UDF Investment Products”

  1. Donald A Moldermaker

    Hello,

    I just came across your website and I thought Id respond.

    On Jan 21, 2016 I purchased 1,000 shares of UDF IV for a total of $9,507.95 from the recommendation of Fidelity Investments online research page. At the time of the purchase it was given a very high buy rating. A few weeks later on Feb 18, 2016, the feds raided UDF’s headquarters and shut them down on suspicion of running a Ponzi Scheme. The stock price immediately dropped and sale of the stock was suspended. I have not been able to recovery one cent of my investment. Which brings me to your website and article.

    My complaint is two-fold. One is the legalities of the operation of UDF. And two, the fiduciary responsibility of the brokerage firm (Fidelity Investments) which sold the stock. Paragraph 4 of your article states just that.

    “Attorney Jason kane, who is overseeing the cases on behalf of UDF investors, noted that “brokerage firms have a duty to ensure that investments they recommend to their customers are suitable for investors’ investment profile. They also have a duty to ensure that they have a reasonable basis before recommending any investment product to members of the investing public. We will continue to hold liable those investment firms that fail to fulfill these duties to their customers.”

    Not only did Fidelity give this stock a high “buy” rating on their website when I bought the stock, but they continued to give the same high “buy” ratings on their website over a week AFTER the Company was shut down! Doesn’t anyone with Fidelity monitor the website for quality and accuracy??? They told me “the ratings are posted by a third party and not their responsibility”. I say FALSE! This is full of fraud, negligence, misrepresentations, and totally skirting their fiduciary responsibility to their client.

    I have pictures I took of the daily ratings from Feb 22 to Feb 25 where the ratings actually INCREASED AFTER the company was shut down! I can supply them upon request.

    Please respond if you feel I have a case here and we’ll talk further. Thank you for your assistance.

    Best regards,

    Donald A Moldermaker

    Reply

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