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BOCA RATON, Fla., March 04, 2016 -- The Securities Law Firm of Menzer & Hill, P.A. (www.suemyadvisor.com) announced today that it is pursuing claims involving United Development Funding (“UDF”) (NASDAQ:UDF) and those Brokerage Firms that recommended and solicited client purchases in UDF investments. A Class Action has already been filed against the company and additional lawsuits are expected. On Thursday February 18, 2016, the FBI raided UDF’s offices in Grapevine, Texas. Recently, a hedge fund alleged that UDF had been operating like a ponzi scheme for several years.
Many Brokerage Firms have solicited clients to invest in UDF products, including, but not limited to:
- United Development Fund III
- United Development Fund IV
- United Development Fund V
- United Mortgage Trust
Fortunately, those investors that incurred losses investing in UDF products may be able to recover those losses through the FINRA arbitration process. Under FINRA rules and regulations, Broker-Dealers are responsible for conducting proper due-diligence on those investments recommended to their clients and therefore may be held liable for losses related to failures in their due-diligence.
Investors that incurred investment losses related to UDF should contact the attorneys at the Securities Law Firm of Menzer & Hill, P.A. to determine if they have a claim for a recovery of losses.
For a free case evaluation or to discuss any other investment losses, please contact the Securities Law Firm of Menzer & Hill, P.A., at 888-923-9223, or visit us on the web at www.suemyadvisor.com.
