United Development Funding IV fka UDFI

[ofirm]

I am now curious how come nobody is talking about a class action lawsuit
against Bass. there are two things here that are quite separate:
1. the damage that was done to the business of the fund. that is
covered in current lawsuit.
2. the damage to the unit holders by the short and distort. that is
where the real large number of dollars of damages was really
created. since UDF and its auditors are not innocent here, I
can see why the managers here are not pushing for it. if I
were them - I would be. that is the biggest lever to pull here.
designed correctly, based on same evidence, you can really
squeeze Bass. again, the biggest lever is the one that would
make Bass fold. the higher the risk, the more times he would
have to think about not just cutting. he did things here that
there are no excuses for and he got caught red handed.
In life, you need to know when to fold them.