PROSHARES ULTRASHORT DOW30
			Symbol			DXD

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ProShares UltraShort Dow 30 Fund (Symbol: DXD) Class Action Filed By Murray, Frank & Sailer LLP

2009-11-02 19:44 ET - News Release

NEW YORK -- (Business Wire)

Murray, Frank & Sailer LLP has filed a class action complaint, in the Southern District of New York on behalf of all individuals and institutions who purchased shares in the UltraShort Dow 30 Fund (the “DXD Fund”) offered by ProShares Trust (“ProShares”), pursuant or traceable to ProShares’s 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”).

The complaint names ProShares, ProShare Advisors LLC, SEI Investments Distribution Co., Michael L. Sapir, Louis M. Mayberg, Russell S. Reynolds, III, Michael Wachs, and Simon D. Collier, as defendants (collectively, “Defendants”). The DXD Fund is one of ProShares’s UltraShort ETFs, which ProShares claims are designed to go up when markets go down. Specifically, the DXD Fund seeks investment results that correspond to twice the inverse of the daily performance of the Dow Jones Industrial Average (“DJIA”). However, although the DJIA fell approximately 34 percent from January 2, 2008 through December 31, 2008, the DXD Fund rose only 7 percent during this period, falling far short of ProShares’s claims.

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