31 Oct United Development Funding IV Investors Represented by Peiffer Wolf Attorneys File Cases Against Brokerage Firms for Improper Recommendations
United Development Funding IV investors represented by Peiffer Wolf securities lawyers have filed claims against brokerage firms that improperly sold unsuitable UDF IV products.
The UDF investors are seeking the return of their funds lost due to the inappropriately recommended UDF IV products. Brokerage firms are required to recommend only products which are appropriate to a particular investor’s own needs and investment strategy. When they recommend unsuitable investment products , investors can seek return of the lost funds.
United Development Funding and several of its programs have been in the news this year, following initial allegations of Ponzi-like practices by a hedge fund, an FBI raid and federal grand jury subpoenas, and UDF’s admission that it has been under investigation by the Securities and Exchange Commission since 2014. Most recently, UDF disclosed that the Securities and Exchange Commission had issued a “Wells Notice” to inform UDF that the SEC intends to recommend enforcement action against it.
Investors rights attorneys with the Peiffer Wolf law firm have been investigated the sales of UDF products by brokerage firms for months, and hundreds of individual investors have contacted the firm regarding their UDF investments.
The Peiffer Wolf lawyers have taken action on behalf of UDF investors and are preparing additional cases, to seek compensation from such brokerage firms for the investors’ losses.
Investors who believe they lost money invested in UDF programs may contact the Peiffer Wolf attorneys Joe Peiffer or James Booker, at 216-589-9280, or via email at [email protected] for a free, no obligation evaluation of their recovery options.
