BOSTON, Dec. 10, 2015 /PRNewswire/ -- United Development Funding IV ("UDF" or the "Company") (Nasdaq: UDF) is being investigated by Block & Leviton, a Boston-based law firm representing investors nationwide, following a significant drop in the Company's stock price.
On November 24, 2015 the Company's independent registered public accounting firm "declined to stand for reappointment." And on December 10, 2015, a letter and thesis was posted to the Internet that raised raised so-called "red flags" and put forward "serious questions about (i) the legitimacy of the financial and other relationships between affiliated entities and individuals and (ii) apparent accounting irregularities." In response to these developments, shares of UDF dropped over 35% today, and have continued to decline in after-hours trading.
If you purchased or otherwise acquired UDF securities on or before December 10, 2015, and have questions about your legal rights or possess information relevant to this investigation, please contact either attorney Jake Walker or Joel Fleming at (617) 398-5600 or by email at firstname.lastname@example.org or email@example.com. Confidentiality to whistleblowers or others with relevant information is assured.
Block & Leviton represents investors affected by violations of securities laws as well as whistleblowing employees who provide information about their employers' violations of law throughout the country. The firm's lawyers have collectively been prosecuting securities cases for over 70 years, have recovered billions of dollars for investors and represent some of the nation's largest institutional investors.
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SOURCE Block & Leviton LLP