BALA CYNWYD, Pa., Jan. 27, 2016 /PRNewswire/ -- Law Office of Brodsky & Smith, LLC announces an investigation of United Development Funding IV ("UDF" or the "Company") (Nasdaq -UDF- News) for potential violations of federal securities laws and breaches of the UDF Board's fiduciary duties.
Click here to learn more about the investigation http://brodsky-smith.com/1029-udf-united-development-funding-iv.html, or call: 877-534-2590. There is no cost or obligation to you.
The investigation concerns a securities class action lawsuit commenced in the United States District Court for the Northern District of Texas. The complaint alleges that the Defendants made false and misleading statements including (1) failing to disclose subsequent UDF companies provide significant liquidity to earlier vintage UDF companies, allowing them to pay earlier investors; and (2) that if the funding mechanism funneling retail capital to the latest UDF company were halted, the earlier UDF companies would not be capable of standing alone. Further, according to the complaint, on December 10, 2015 after a published report on the Company's real estate practices, the Company disclosed that it had been cooperating with an investigation conducted by the SEC since April 2014. As a result, shares of UDF declined significantly.
If you purchased shares of UDF common stock between June 4, 2014 and December 10, 2015, and wish to discuss the investigation, or if you have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC before February 19 , 2016, who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, by visiting http://brodsky-smith.com/1029-udf-united-development-funding-iv.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders.
Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE Brodsky & Smith, LLC