Current Report Filing (8-k)
July 03 2018 - 4:36PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(
d
) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): June 28, 2018
United
Development Funding IV
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(Exact Name of Registrant as Specified in Its Charter)
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Maryland
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001-36472
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26-2775282
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(State or other
jurisdiction of incorporation
or organization)
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(Commission File Number)
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(I.R.S. Employer
Identification No.)
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1301 Municipal Way, Suite 200, Grapevine,
Texas
76051
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(Address of principal executive offices)
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(Zip Code)
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(214) 370-8960
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(Registrant’s telephone number, including area code)
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None
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(Former name or former address, if changed since last report)
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Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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¨
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Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
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¨
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Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
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¨
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Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
o
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act.
o
On June 28, 2018, United
Development Funding IV and United Development Funding III, L.P. (collectively, “UDF”) entered into a settlement with
the U.S. Securities and Exchange Commission (the “SEC”) of all outstanding issues and the complete resolution of the
SEC’s investigation into possible violations of certain provisions of the Securities Act of 1933 and the Securities Exchange
Act of 1934.
As previously disclosed
by UDF, the SEC had been conducting an investigation since April 2014, which was followed by “Wells Notices” from the
staff of the SEC in September 2016.
The settlement includes
the filing of a complaint by the SEC and a consent judgment. Under the consent judgment, UDF and certain individuals (the “Individuals”)
associated with UDF consent to the entry of orders enjoining them from future violations of certain provisions of the federal securities
laws (including misrepresentation and omissions, reporting and books and records provisions). The Individuals will also collectively
be subject to disgorgement and pre-judgement interest of $7.2 million and a monetary fine of $1.075 million. UDF and
the Individuals neither admit nor deny the allegations of the complaint, and none of UDF’s executives will be limited from
continuing to manage UDF’s business.
A copy of UDF’s
press release announcing the settlement is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
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Item 9.01
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Financial Statements and Exhibits.
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SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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United Development Funding IV
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Dated: July 3, 2018
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By:
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/s/ Hollis M. Greenlaw
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Hollis M. Greenlaw
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Chief Executive Officer
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