On Monday, United Development Funding, the Texas-based investment and lending
firm, disclosed that it received a letter from securities market NASDAQ
indicating the firm’s United Development Funding IV real estate
investment trust was not in compliance with listing rules. The warning
reportedly stems from UDF IV’s alleged failure to file its 2015
Form 10-K within the required timeframe.
NASDAQ gave UDF IV 60 days to comply with the reporting rules.
In December, Kyle Bass, a Dallas hedge fund CEO, started a campaign against
UDF, accusing the company of fraud and making inappropriate loans. UDF
denied the claims. In February, federal agents raided UDF and seized company
Meyer Wilson began
investigating matters involving UDF in February. If you invested in UDF, call our securities fraud attorneys today for a
free consultation to learn about your legal options. We may be able to help you recover
Discover the details of the UDF allegations below.