Investigation of Potential Action on Behalf of Certain United Development Funding Corp.
Kessler Topaz Meltzer & Check, LLP is investigating potential shareholder actions on behalf of current shareholders of United Development Funding (“UDF”), UDF II L.P., UDF III L.P., and UDF Income Fund V (collectively, the “UDF Funds”).
About the UDF Funds
The UDF Funds generally invest in the development and construction of single-family homes through a family of public and private funds, which direct investor capital towards the financing of homebuilders and land developers. In February 2016, the offices of UDF IV, a related entity, were raided by the F.B.I. following a report suggesting that the UDF Funds were “perpetuating a Ponzi-like real estate scheme across multiple funds.”
Alleged Wrongful Conduct
Kessler Topaz Meltzer & Check LLP is investigating potential breaches of fiduciary duties by members of the Board of Directors of each of the UDF Funds, which may have caused harm to the UDF Funds and their respective shareholders.
If you currently own shares of any of the UDF Funds and would like to learn more about our investigation, please fill out our online form or contact us today at 888-299-7706 or firstname.lastname@example.org.