NEW YORK -- (Business Wire)
Rosen Law Firm, a global investor rights law firm, reminds purchasers of
VelocityShares Daily Inverse VIX Medium Term Exchange Traded Notes
(“ZIV”) (NASDAQ: ZIV) from June 30, 2017 through February 5, 2018,
inclusive (the “Class Period”) of the important April 5, 2019 lead
plaintiff deadline in the class action. The lawsuit seeks to recover
damages for ZIV investors under the federal securities laws.
To join the ZIV class action, go to https://www.rosenlegal.com/cases-1502.html
or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at
866-767-3653 or email pkim@rosenlegal.com
or zhalper@rosenlegal.com
for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS
CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU
MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS
MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN
ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD
PLAINTIFF.
According to the lawsuit, defendants throughout the Class Period made
false and/or misleading statements and/or failed to disclose that: (1)
the inverse exchange traded notes (“ETNs”) were not appropriate for
managing daily trading risks; (2) Credit Suisse had designed the ZIV to
fail under certain market conditions; (3) Credit Suisse had offered and
sold more inverse ETNs than the market could bear, which would enable
Credit Suisse to cause the collapse of the inverse ETNs when the
opportunity presented itself; and (4) Credit Suisse could actively
manipulate inverse ETNs by precipitating an acute liquidity event in
volatility markets, including markets for VIX futures. The price of ZIV
dropped from $85.41 to $68.50 on abnormally high trading volume between
February 2, 2018 and February 6, 2018 when these previously undisclosed
adverse facts became known.
A class action lawsuit has already been filed. If you wish to serve as
lead plaintiff, you must move the Court no later than April 5, 2019. A
lead plaintiff is a representative party acting on behalf of other class
members in directing the litigation. If you wish to join the litigation,
go to https://www.rosenlegal.com/cases-1502.htm
or to discuss your rights or interests regarding this class action,
please contact Phillip Kim, Esq. or Zachary Halper, Esq. of Rosen Law
Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com
or zhalper@rosenlegal.com.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm,
on Twitter: https://twitter.com/rosen_firm
or on Facebook: https://www.facebook.com/rosenlawfirm/.
Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class
Action Services for number of securities class action settlements in
2017. The firm has been ranked in the top 3 each year since 2013.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190215005534/en/
Contacts:
Laurence Rosen, Esq.
Phillip Kim, Esq.
Zachary Halper, Esq.
The
Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
New
York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax:
(212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
zhalper@rosenlegal.com
www.rosenlegal.com
Source: The Rosen Law Firm, P.A.
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