Did Your Broker Recommend UDF Non-Traded REIT?

Soreide Law Group is launching an investigation on behalf of investors who were recommended the stock, UDF real estate investment trusts (REITs), by their brokers and financial advisors and experienced devastating losses.
United Development Funding IV (UDF) Non-Traded REIT was financed through an offering distributed through RCS Capital Corp, a division of Realty Capital Securities, LLC. On January 31, 2016, RCS Capital Corp filed for bankruptcy protection, and UDF has not traded since February 18, 2016.
The FBI raided the UDF offices on February 18, 2016, in Grapevine, Texas, sending the company share plummeting more than 50%  to $3.20 per share. Since December, the UDF stock price has dropped a whopping 81%.
UDF’s 52 week range: 3.20 - 19.00
2018 Update: Texas based REIT United Development Funding brand UDF nontraded as UDF IV loaned money to pay down their older loans from UDF III according to the SEC.  UDF allegedly solicited investors promising returns of up to 9.75% according to the SEC.  UDF IV offices were raided in February 2016.  These Texas REIT's paid $8.2 million to settle with the SEC for misleading investors.
In a statement from UDF:
United Development Funding III, L.P. and United Development Funding IV (OTC:UDFI) (collectively “UDF” or the “Companies”) announce their settlement with the Securities and Exchange Commission (“SEC”) of all outstanding issues and the complete resolution of the SEC’s investigation.   As previously disclosed by UDF, the SEC had been conducting an investigation since April 2014, which was followed by “Wells Notices” from the staff of the SEC in September 2016.
Many investors who were sold UDF by their brokers did not clearly understand the product. If your broker recommended this high-risk product for your otherwise low-risk portfolio, call a Securities Arbitration Lawyer for a no-cost consultation on the possibility of recovering your losses at Soreide Law Group: 888-760-6552.