On August 13, 2020, NexPoint Advisors, L.P. announced that it has issued an update on its investment in United Development Funding IV. Further, NexPoint added that the response letter wrongly suggests NexPoint's intentions include "protecting the participants in a scheme to defraud the Trust and its shareholders, additionally, NexPoint has explicitly stated its intentions are to create shareholder value. Further, NexPoint added that it continues to welcome the opportunity to engage in meaningful discussions about the management of the Trust with the Company Board; however, its priority is ensuring that the Company Board is acting in a manner that safeguards the long-term health of the Trust, while also maximizing shareholder value and upholding its duties to shareholders.