.png)
2 hours ago
Board Continues Deflection Tactics to Avoid Accountability
Current Trustees Refuse to Answer Serious Questions, Highlighting Need for New Leadership
DALLAS, Nov. 7, 2024 /PRNewswire/ -- NexPoint Real Estate Opportunities, LLC (together with its affiliates "NexPoint") provided an update on United Development Funding IV ("UDF IV" or the "Company") and the current Board of Trustees election.
In a recent letter, NexPoint alerted fellow shareholders of the Company's persistent use of deflection tactics to evade accountability and shift focus away from its own failings. UDF IV has employed these tactics before. The Board and management blamed external parties for criminal misconduct, disclosure violations, and governance failures that occurred for years at UDF IV under the current Trustees. Those accusations against external parties have since been disproven, revealing a pattern of deception used by the Board and UDF management to obscure their own culpability.
- A copy of the shareholder letter can be found here.
In the face of this proxy fight, rather than presenting shareholders with a clear agenda for the Company moving forward, the Board has employed a classic fearmongering campaign: imploring shareholders to fear and improbable threats, while ignoring the Company's well-documented pattern of corporate misbehavior that spans almost a decade and is likely to continue without meaningful change.
The letter urges shareholders to ignore these deception tactics ...
