CLEVELAND, Feb. 23, 2016 /PRNewswire/ -- United Development Funding investors have retained the Peiffer Rosca Wolf law firm's securities practice attorneys to seek compensation in connection with their UDF investment losses. The Peiffer Rosca Wolf lawyers are preparing a number of proceedings on behalf of United Development Funding investors who invested before and after June 2014 in various United Development Funding programs.
United Development Funding Loss Recovery: Peiffer Rosca Wolf Attorneys Taking Multi-Faceted Approach to Assist UDF Investors
The Peiffer Rosca Wolf securities attorneys are taking a multi-faceted approach in helping United Development Funding investors recover their losses. First, the Peiffer Rosca Wolf securities attorneys are working at a class action to include United Development Funding investors who invested in a number of programs, not just United Development Funding IV.
Second, the Peiffer Rosca Wolf securities lawyers are preparing to file claims against several broker-dealer firms that recommended and sold United Development Funding investments to investors. Such claims will be filed in FINRA arbitration and brought individually or as group cases against broker-dealer firms that sold United Development Funding investments to investors. Brokerage firms have a duty to conduct adequate due diligence on new investment products before recommending such investments to their customers.
United Development Funding in Hot Water after Allegations of Ponzi Scheme, FBI Search
The recent issues involving United Development Funding come in the wake of an investigation by the Securities and Exchange Commission that started in 2014, allegations by a hedge fund manager that United Development Funding is running a "Ponzi-like" real estate investment scheme, and a recent FBI raid at the UDF offices.
United Development Funding's top officers were recently subpoenaed to provide business documents to a federal grand jury. This comes after trading was suspended by NASDAQ in United Development Funding IV on February 18, 2016, following a drop in UDF IV's share price to $3.20 and the Federal Bureau of Investigation's raid of the United Development Funding office in Texas earlier that same day.
What Investors Can Do
If you invested in a United Development Funding program before or after June 2014 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, James Booker, or Colin Ray 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.
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