Court Approves $3 Million Settlement Award in Shareholder Derivative Lawsuit

A Tarrant County Texas District Judge entered final judgment on a negotiated $3 Million settlement agreement resolving allegations of improper lending and self-dealing brought by an investor, derivatively, against the trustees and officers of a real estate investment trust (REIT). Cody Towns served as counsel for Plaintiff along with attorney Christopher J. Gray of New York. The case was filed as The Lawrence C. Headley Living Trust, derivatively on behalf of United Development Funding Income Fund V vs. Hollis M. Greenlaw, et al., Cause No. 017-289273-16 In the District Court of Tarrant County, Texas..