CLEVELAND, Feb. 19, 2016 /PRNewswire/ -- The Peiffer Rosca Wolf securities attorneys are investigating potential claims and preparing to take action on behalf of investors who invested in real-estate investment trusts and other investment vehicles sponsored by United Development Funding before 2014.
Securities fraud class action lawsuits were recently filed on behalf of investors in United Development Funding IV ("UDF IV") who purchased UDF IV securities between June 4, 2014 and approximately December 10, 2015, inclusive. Many investors invested in other United Development Funding programs or did not invest during the proposed time frame and may not be included in those class actions. However, the Peiffer Rosca Wolf securities attorneys are preparing to take action on behalf of certain investors who invested in United Development Funding programs, including but not limited to United Development Funding IV, and whose claims are not included in the class actions mentioned above.
On February 18, 2016, the FBI raided United Development Funding's office in Grapevine, Texas. On the same day, share prices of UDF IV fell nearly 55% before trading was halted on the stock. This follows after the Securities and Exchange Commission began its investigation into United Development Fund in 2014 and after famed hedge fund manager Kyle Bass, who predicted the 2008 subprime mortgage crisis, alleged on his website, www.udfexposed.com, that UDF is using new investor money to pay existing investors, therefore perpetuating a Ponzi-like scheme.
What investors can do
If you invested in a United Development Funding program and wish to obtain additional information about our investigation or would like to discuss this matter or your rights, please visit www.udfinvestigation.com and complete the contact form, or contact Alan Rosca or James Booker toll free at 888-998-0520 or by email at firstname.lastname@example.org.
The Peiffer Rosca Wolf Abdullah Carr & Kane law firm ("Peiffer Rosca Wolf") represents individual and institutional investors who have suffered financial losses as a result of investment fraud or misconduct, Ponzi schemes, unsuitable investment recommendations, or abusive practices in the financial industry.
Attorney Advertising. Prior results do not guarantee a similar outcome. Please visit our website, www.securitieslitigators.com, for important disclosures, office locations, and lawyer admissions. Peiffer Rosca Wolf Abdullah Carr & Kane, A Professional Law Corporation.
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