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 FTSE/Xinhua China 25 Proshares Fund 2009-11-03 20:11 ET - News Release
NEW YORK -- (Business Wire)
The law firm of Stull, Stull & Brody announces that it has 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 UltraShort FTSE/Xinhua China 25 Proshares Fund (the “FXP
Fund”) (NYSEArca: FXP), 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 FXP 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 FXP 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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