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 Files Class Action Lawsuit on Behalf of Investors in ProShares UltraShort Dow30 Fund 2009-11-18 20:08 ET - News Release
NEW YORK -- (Business Wire)
The law firm of Stull, Stull & Brody announces that it has filed on
November 18, 2009 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 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 shares of the DXD
Fund (the “Class”). The Class is seeking to pursue remedies under
Sections 11 and 15 of the Securities Act of 1933 (the “Securities Act”).
In addition to the claims concerning ProShares DXD Fund, Stull, Stull &
Brody is also investigating claims on behalf of investors in other
ProShares leveraged funds (the “Funds”) (see list below), 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.
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