{"id":3871,"date":"2016-10-18T21:52:01","date_gmt":"2016-10-19T02:52:01","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/?p=3871"},"modified":"2016-10-18T21:52:01","modified_gmt":"2016-10-19T02:52:01","slug":"texas-reit-gets-sec-wells-notice-nasdaq-delists-shares","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/texas-reit-gets-sec-wells-notice-nasdaq-delists-shares\/","title":{"rendered":"Texas REIT Gets SEC Wells Notice as Nasdaq Delists Its Shares"},"content":{"rendered":"<p>\t\t\t\tUnited Development Funding IV, a <a href=\"https:\/\/texas.stockbroker-fraud.com\">Texas real estate investment trus<\/a>t,\u00a0 said that it has received a Wells Notice from the U.S. Securities and Exchange Commission. This is a sign that the regulator\u2019s staff will likely recommend an enforcement action against the mortgage and development REIT. \u00a0There are individuals connected to the company and its adviser that also received\u00a0SEC Wells notices.<\/p>\n<p>The UDF REITs have been in trouble for months now, ever since Harvest Exchange, a hedge fund that had a short position in UDV IV shares, published a report \u00a0about how it believes the company has been run like a Ponzi scam for years. Harvest Exchange claimed that the REIT utilized new capital to pay current investors their distributions, while providing earlier UDF companies hefty liquidity in order to pay earlier investors. The hedge fund noted the earlier companies do not appear to be able to stand on their own without this liquidity from the latest UDF REITs.<\/p>\n<p>UDF IV not only denied the hedge fund\u2019s claims, but also it filed a complaint with the SEC claiming it had been the victim of a <a href=\"https:\/\/texas.stockbroker-fraud.com\">securities trading scam <\/a>in which an investor was building a short stock position to illegally manipulate its shares.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/texas-reit-gets-sec-wells-notice-nasdaq-delists-shares\/#more-3871\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>United Development Funding IV, a Texas real estate investment trust,\u00a0 said that it has received a Wells Notice from the U.S. Securities and Exchange Commission. This is a sign that the regulator\u2019s staff will likely recommend an enforcement action against the mortgage and development REIT. \u00a0There are individuals connected to the company and its adviser [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3759,3750],"tags":[3687,3132,3564],"class_list":["post-3871","post","type-post","status-publish","format-standard","hentry","category-reits","category-texas-securities-fraud","tag-harvest-exchange","tag-udf-iv","tag-united-development-funding-iv"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Texas REIT Gets SEC Wells Notice as Nasdaq Delists Its Shares &#8212; Investor Lawyers Blog &#8212; October 18, 2016<\/title>\n<meta name=\"description\" content=\"United Development Funding IV, a Texas real estate investment trust,\u00a0 said that it has received a Wells Notice from the U.S. Securities and Exchange &#8212; October 18, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/texas-reit-gets-sec-wells-notice-nasdaq-delists-shares\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Texas REIT Gets SEC Wells Notice as Nasdaq Delists Its Shares &#8212; Investor Lawyers Blog &#8212; October 18, 2016\" \/>\n<meta name=\"twitter:description\" content=\"United Development Funding IV, a Texas real estate investment trust,\u00a0 said that it has received a Wells Notice from the U.S. Securities and Exchange &#8212; October 18, 2016\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Texas REIT Gets SEC Wells Notice as Nasdaq Delists Its Shares &#8212; 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