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BRIEF-United Development Funding says gets Wells Notice from SEC
October 18, 2016 / 5:51 PM / 10 months ago

BRIEF-United Development Funding says gets Wells Notice from SEC

Oct 18 (Reuters) - United Development Funding IV

* United Development Funding IV receives delisting notice from nasdaq

* Informed Nasdaq that trust has received a "Wells Notice" from staff of U.S. SEC's division of enforcement

* U.S. SEC staff has made a preliminary determination to recommend that SEC file an enforcement action against trust

* certain individuals associated with trust and its advisor also received similar wells notices

* Total owed under lines of credit,notes has been reduced from $170.9 million at Sept 30, 2015 to $26.9 million as of Oct 17 Source text for Eikon: Further company coverage:

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