UltraShort S&P500 ProShares: Key Developments
Stull, Stull & Brody Files Class Action Lawsuit On Behalf Of Investors In ProShares UltraShort S&P500 (ETF)
November 10, 2009 |
| The law firm of Stull, Stull & Brody announced that it has on November 9, 2009 filed a class action complaint in the U.S. District Court for the Southern District of New York on behalf of all persons who purchased or otherwise acquired shares in the ProShares UltraShort S&P500 Fund, pursuant or traceable to ProShares` false and misleading Registration Statement, Prospectuses, and Statements of Additional Information issued in connection with shares of the SDS Fund. The Class is seeking to pursue remedies under Sections 11 and 15 of the Securities Act of 1933. In addition to the claims concerning ProShares SDS Fund, Stull, Stull & Brody is also investigating claims on behalf of investors in other ProShares leveraged funds, such as whether ProShares failed to disclose in its registration statements: (i) that if shares of the Funds were held for a time period longer than one day, the likelihood of massive losses was huge; and (ii) the extent to which performance of the Funds would invariably diverge from the performance of the benchmark. |
Pomerantz Law Firm Files Action On Behalf Of Investors In ProShares UltraShort S&P500 (ETF)
November 3, 2009 |
| Pomerantz Haudek Grossman & Gross LLP announced that it has filed a class action (09-cv-9077) on behalf of investors of ProShares UltraShort S&P Fund who purchased or otherwise acquired shares in the SDS Fund, an exchange-traded fund (ETF) offered by ProShares Trust (ProShares), pursuant or traceable to ProShares' false and misleading registration statement, prospectuses, and statements of additional information issued in connection with the SDS Fund's shares. Specifically, the complaint alleges, among other things, that The Registration Statement misled investors that the SDS Fund would deliver double the inverse return of the S&P 500 Indes (SPX). ProShares' Registration Statement provides hypothetical examples of fees that investors may encounter over I-year, 3-year, 5-year, and 10-year periods, thereby misleading investors that the SDS Fund may be used for intermediate or long-term investing. The Registration Statement did not explain that, notwithstanding the name of the SDS Fund, the investment objective of the SDS Fund, and the purpose of ProShares' UltraShort ETFs, the SDS Fund would, to a mathematical certainty, cause enormous losses if used for intennediate or long-term investing. The enormous losses are accelerated when the market becomes more volatile. |
ProShares UltraShort S&P500 (ETF) Announces Exchange Change-Stock Exchange
November 12, 2008 |
| The Stock Exchange reported that ProShares UltraShort S&P500 (ETF) has been delisted from AMEX to NYSE Arca. |
UltraShort S&P500 ProShares Announces Name Change to ProShares UltraShort S&P500 (ETF)-Stock Exchange
October 1, 2008 |
| The Stock Exchange reported that UltraShort S&P500 ProShares has changed its name to ProShares UltraShort S&P500 (ETF). |
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