United Development Funding IV fka UDFI

[56Chevy]

Current Report Filing (8-k)

Date : 10/03/2018 @ 5:17PM
Source : Edgar (US Regulatory)
Stock : United Development Funding Iv (PN) (UDFI)
Quote : $4.70 0.1 (2.17%) @ 4:31PM

On September 27, 2018, United Development Funding IV (the “Trust”) received an Order Instituting Administrative Proceedings and Notice of Hearing Pursuant to Section 12(j) of the Securities Exchange Act of 1934, File No. 3-18832, dated September 24, 2018 (the “Order”). The Order was issued by the U.S. Securities and Exchange Commission (the “Commission”) via Release No. 84273 and commences an Administrative Proceeding alleging that the Trust failed to comply with Section 13(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rules 13a-1 and 13a-13 thereunder (the “Allegations”) by failing to file periodic reports since the Trust filed a Form 10-Q for the period ended September 30, 2015. The Commission seeks to determine whether it is necessary and appropriate for the protection of investors to suspend for a period not exceeding twelve months, or revoke, the registration of the Trust’s common shares registered pursuant to Section 12 of the Exchange Act.

The Trust expects to shortly engage in discussions with the Commission’s staff seeking to resolve the Administrative Proceeding without de-registration. However, there can be no assurance that the Trust will be able to avoid de-registration or how long the Administrative Proceeding may take to conclude.

Source:
https://ih.advfn.com/p.php?pid=nmona&article=78393704