Kehoe Law Firm, a leading securities litigation firm, acknowledges the recent development in the ongoing United Development Funding IV securities class action lawsuit. The firm is pleased to announce that a settlement in principle has been reached, as indicated by the Joint Notice of Settlement filed by the Parties in the U.S. District Court for the Northern District of Texas.
The Joint Notice of Settlement outlines that the Parties have jointly stipulated to extend the time for Plaintiffs to respond to the Motion to Dismiss until two weeks after the Parties jointly notify the Court that the settlement in principle cannot be consummated. This strategic extension allows the Parties the necessary time to finalize the settlement details.
The case, originally filed on March 8, 2016, alleges violations of the Texas Securities Act. The Parties have been engaged in active settlement discussions, and the recent agreement indicates significant progress toward resolving the matter. As part of the settlement process, the Parties are working on a Memorandum of Understanding (MOU) to document the essential terms of the agreement.
Michael Yarnoff, a partner at Kehoe Law Firm, expressed optimism about the potential resolution, stating: “We are encouraged by the progress made in reaching a settlement in principle in the UDF IV investor case. Our commitment remains steadfast in advocating for the rights of investors who have been affected. We look forward to working through the judicial process and ultimately obtaining court approval for this settlement, which we believe is in the best interests of the investors involved.”
Kehoe Law Firm remains committed to ensuring a fair and just resolution for the investors involved in the UDF IV case. The firm will continue to provide updates as the settlement progresses through the judicial process.
For more information about Kehoe Law Firm and its involvement in this matter, please contact Michael Yarnoff at [email protected] or call (215) 792-6676.