United Development Funding IV fka UDFI

[Jh5142]

Thie quote below from Kyle Bass is interesting.

Noticeably absent is any claim that UDF is a Ponzi scheme. Also there would not have been anything wrong had he just raised questions about udf business. But his tactics went way beyond just raising questions. Thirdly, his last sentence underscores what his likely defense is going to be and that is the idea that UDF was a matter of public importance, and so therefore, he had the first amendment right to say anything he wanted.

His quote sounds to me like an admission of defeat:

"The SEC's complaint and charges of wrongful conduct against UDF and five executives today, as well as the reported settlement and agreement by UDF executives to pay over $8.2 million in disgorgement and penalties, as well as permanent injunctions against future violations, underscores and validates the legitimate questions that Hayman Capital raised about UDF's business," Bass said in a statement. "UDF's lawsuit against Hayman is meritless and Hayman will vigorously defend its right to comment on matters of public importance."