United Development Funding IV fka UDFI

[Jh5142]

UDFI does seem to be making a decent case. One of the more interesting points Kitchens makes is that by having multiple funds that invested in the same deal isn't an issue of a 'pyramid,' but rather is a 'conflict of interest' issue that management musts deal with.

In both the derivative lawsuit and the general class action lawsuit, parties have seen 170,000 pages of documents provided by UDFI. They all seem close to a settlement. The FBI and SEC haven't taken any enforcement so far. Hopefully, those facts indicate that there is still substantial value to the portfolio.

However, they still haven't paid a dividend for 2017 and we haven't seen financials. Would love to see either of those soon.