The Frankowski Firm is continuing its investigation into United Development Funding III and IV (UDF) on behalf of investors in the company’s real estate investment trusts (REITs). The FBI recently raided the company’s offices in Texas, and immediately afterward UDF IV’s price dropped to $3.20 per share, more than 81% lower than its December 2015 price of $17.20.
Investors have lost about $1 billion in UDF investments and shareholder class action lawsuits have been filed. The investment fraud attorneys at The Frankowski Firm believe that they can help investors recover their losses, including investors who invested in UDF products prior to June 2014.
Richard Frankowski, owner of The Frankowski Firm said, “Investment advisers, brokers and their firms have a legal duty to understand and communicate to investors all the material facts about an investment, including the risks, before the investment is made. In other words, they have a duty not to misrepresent or fail to disclose any important facts before the investment is made. In addition, they have a duty not to recommend an investment that is unsuitable for the investor based on the investor’s investment objective, risk tolerance and time horizon. If any of these duties is breached, and losses occur, the investor has a compelling claim to recover those losses in FINRA arbitration.”
If you or someone you know has lost money after investing in UDF or another investment, please contact Richard Frankowski at 888-741-7503 to discuss your potential legal remedies or complete the contact form.