Market Overview

United Development Funding IV Buckles Following Reported FBI Raid

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United Development Funding IV (NYSE: UDF) shares are trading lower by $3.85 at $3.20 in Thursday's session.

At this time, the issue is halted on its second circuit breaker.

The company, which has been under recent recent scrutiny for its finances, had its offices visited by the FBI earlier in the day, NBC 5 reported.

The issue initially tanked from it December 20 close ($17.20) to $11.15 the following day when potential accounting woes were brought to the Street's attention.

On Thursday, shares fell below their former all-time low of $5.21.

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