The Peiffer Wolf securities attorneys Jason kane and Joe Peiffer are investigating the activities of United Development Funding (“UDF”) on behalf of investors in several UDF programs: United Development Funding I, United Development Funding III, United Development Funding IV, and United Development Funding V.
United Development Fund recently admitted that has been the subject of an investigation by the United States Securities and Exchange Commission (“SEC”) since April 2014. The SEC has not taken action against UDF as of the date of this blog, nor has any wrongdoing on UDF’s part been proven in any court of law. Famed hedge fund manager Kyle Bass alleged earlier this year that United Development Funding was engaging in Ponzi-scheme like activities, by using new investors’ money to pay old investors. As a result of this, Bass bet against shares of UDF, alleging publicly that UDF was on the verge of collapse. UDF’s share price has collapsed and trading has been halted this week.
The Peiffer Wolf securities attorneys are investigating investments in United Development Funding. They have been in contact with numerous UDF investors and have been retained by UDF investors to take action on their behalf. Their focus is on seeking to assist investors who invested before 2014 in UDF IV as well as investors who invested in other UDF programs.
Investors who would like to know more about the Peiffer Wolf investigation may contact securities attorneys Jason kane, Joe Peiffer, or James Booker for a free, no-obligation evaluation of their legal options toll-free at 216-589-9280 or by email at firstname.lastname@example.org. They take most cases of this type on a contingency fee basis and advance case costs, and only get paid for their fees and costs from money they recover from investors.