United Development Funding IV Shareholder Derivative Litigation Settlement Information

Levi & Korsinsky has received preliminary approval of a settlement in a shareholder derivative action concerning United Development Funding IV. The lawsuit, styled Evans v. Greenlaw, et al., No. 3:16-cv-00635-M (N.D. Tex.), alleges, among other claims, breach of fiduciary duty against UDF IV’s Trustees. A settlement hearing in the matter is scheduled for April 16, 2018. Additional information about the terms of the settlement can be found in the attached documents. The Notice of  Pendency and Proposed Settlement of Derivative Litigation and Hearing is available here. The Stipulation of Settlement is available here.