20 Feb UDF, UDF investors, UDF scheme, United Development Funding, United Development Funding complaint, United Development Funding fraud, United Development Funding investors, United Development Funding lawsuit, United Development Funding losses, United Development Funding ponzi, United Development Funding scheme
UDF Exhibits Characteristics Consistent with a Ponzi Scheme,” Famed Investor Alleges; Peiffer Wolf Securities Lawyers Have Been Retained by UDF Investors, Are Preparing to Take Action, and Focusing on Investors who Purchased Prior 2014
Hayman Capital Management, a hedge fund founded by Dallas investor Kyle Bass, claims in a website that, “(United Development Funding IV) UDF exhibits characteristics consistent with a Ponzi scheme.”
The Peiffer Wolf securities lawyers are currently investigating UDF, have been retained to prosecute claims on behalf of investors, are preparing to take action and would like to talk to investors that purchased UDF shares before June, 2014.
Also, UDF IV‘s stock has completely nosedived, losing more than half its value since the accusations were leveled against the REIT.
Hayman Capital Management LP Claims UDF is Operating like a Ponzi Scheme by “Using New Investor Money to Pay Existing Investors”
Hayman Capital Management LP’s founder Kyle Bass claims that UDF is allegedly operating like a Ponzi scheme by “using new investor money to pay existing investors”, according to a web site presently being reviewed by attorneys Jason Kane and Joe Peiffer.
While Bass predicts bankruptcy for UDF, UDF CEO Hollis Greenlaw said the firm’s publicly-held real estate investment trust — United Development Funding IV (Nasdaq: UDF) has done nothing wrong, according to a statement to investors on Feb. 8 presently being reviewed by attorneys Jason Kane and Joe Peiffer.
Greenlaw further said, “Our secured loans are underwritten based on collateral value, and UDF IV has not had any realized losses in its portfolio.”
Securities Lawyers Investigating
The Peiffer Wolf securities lawyers often represent investors who lose money as a result of alleged Ponzi schemese and are currently investigating UDF’s alleged scheme. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
The Peiffer Wolf securities lawyers are currently investigating UDF, have been retained to prosecute claims on behalf of investors, and are preparing to take action and would like to talk to investors who purchased UDF shares. Investors who believe they lost money as a result of UDF’s alleged Ponzi scheme may contact the securities lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 8585-310-5140.