This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Stull, Stull & Brody Announces Class Action On Behalf of Investors in ProShares UltraShort Dow30 Fund 2009-10-30 20:42 ET - News Release
NEW YORK -- (Business Wire)
Attorney Advertising. Notice is hereby given that a class action has
been commenced on behalf of all persons who purchased or otherwise
acquired shares in the UltraShort Dow30 Fund (the “DXD Fund”) (NYSE:
DXD), 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 (collectively, the “Registration Statement”) issued in
connection with the DXD Fund (the “Class”). The action seeks remedies
under Sections 11 and 15 of the Securities Act of 1933 (the “Securities
Act”).
In addition to the action concerning the ProShares DXD Fund, Stull,
Stull & Brody is currently investigating potential claims on behalf of
investors in other ProShares leveraged funds (the “Funds”) (listed
below), including 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 a
near certainty; and (ii) the extent to which performance of the Funds
would invariably diverge from the performance of the benchmark.
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