UDF Response to Misleading Anonymous Posts. View the 8-K, filed Dec. 14, 2015.
- United Development Funding IV Announces Monthly Distribution for January 2016 Jan 5th, 2016
- UDF III and UDF IV File Detailed Response to Misleading Anonymous Posts with the SEC Dec 14th, 2015
- United Development Funding III and United Development Funding IV Provide a Response to Market Rumors Dec 10th, 2015
IMPORTANT MESSAGE FROM THE CEO | February 5, 2016
Dear United Development Funding IV (“UDF IV”) Shareholders,
Today, after launching a website containing multiple false and misleading statements about our company and management team, a Dallas-based hedge fund has confirmed they have built a significant short position in UDF IV.
We stand by our initial response filed with the SEC on December 14, 2015. As is clearly detailed in our regulatory filings, our secured loans are underwritten based on collateral value, and UDF IV has not had any realized losses in its portfolio. We are confident that we have appropriate policies and procedures in place to ensure accurate financial reporting and compliance with all applicable rules and regulations.
The hedge fund acknowledges on its website that they will profit if the stock price of UDF IV falls, and given this financial incentive we believe the hedge fund intends to continue disseminating misleading information. We remain focused on protecting investor value through the preservation of our portfolios, and we will defend our funds aggressively against these unfounded accusations.
Hollis M. Greenlaw
Chief Executive Officer