Stockholders v Proshares Trust : UltraShort Dow 30 Fund
Stockholders File Lawsuit Against Proshares Trust : UltraShort Dow 30 Fund
According to a press release dated October 1, 2009, the complaint alleges that the defendants violated the federal securities laws by misrepresenting and failing to disclose material adverse facts. According to the complaint, the defendants failed to disclose exceptional risks associated with the DXD Fund. Investors who purchased shares of DXD Fund may have suffered losses that may be compensable under the law.
The complaint alleges the Defendants violated the Securities Act by failing to disclose the following risks, inter alia, in the Registration Statement: (1) if DXD Fund shares were held for a time period longer than one day, the likelihood of catastrophic losses was huge; and (2) the extent to which performance of the DXD Fund would inevitably diverge from the performance of the DJIA -- i.e., the overwhelming probability, if not certainty, of spectacular divergence.
If you bought Proshares Trust : UltraShort Dow 30 Fund securities and would like to obtain information about the Proshares Trust : UltraShort Dow 30 Fund lawsuit, then you are invited to call Kahn Swick & Foti, LLC toll free at (866) 467-1400 extension 100 to speak with an attorney or visit www.ksfcounsel.com.
