United Development Funding IV fka UDFI

[Phaedrus77]

The government also filed a response regarding victim impact statements. I chuckled when they pointed out that the convicted execs claimed billions of dollars of damages in the Bass suit, but are now claiming the shareholders have suffered no damages (or something to that effect).

The government also pointed out how UDF’s website has links to the Biven’s lawsuit, but does not inform shareholders that the suit was dismissed (with prejudice). Just another example of the convicted execs’ lack of candor with shareholders.

The filing also included the letter & financials sent to UDF III shareholders last year. It was quite pathetic...they kept claiming they were a “victim” of an attack. I don’t suppose any of them will ever take any responsibility for this, or apologize to shareholders for the way they’ve been treated the last 7 years.