Law Firm Files Case On Behalf Of Investors Against ProShares Trust Concerning Their ETFs
(Marketwire) – Bernstein Liebhard LLP has filed a case against ProShares Trust (“ProShares”) concerning ProShares’ DUG (DUG) fund. This complaint alleges that ProShares, as well as others, violated the Securities Act of 1933 by failing to disclose the following risks, inter alia, in the Registration Statement, Prospectuses, and Statements of Additional Information issued in connection with shares of the DUG fund: (1) if shares of the DUG fund were held for a time period longer than one day, the likelihood of catastrophic losses was huge; and (2) the extent to which performance of the DUG fund would inevitably diverge from the performance of its benchmark – i.e., the overwhelming probability, if not certainty, of spectacular divergence.
The current lead plaintiff deadlines for the various ProShares funds are as follows:DUG, UYG-11/23/09 DXD-11/30/09
A “lead plaintiff” is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as lead plaintiff. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Bernstein Liebhard LLP, or other counsel of your choice, to serve as your counsel in this action.
Bernstein Liebhard is also investigating claims on behalf of investors in all other ProShares leveraged funds (see list below).Fund Ticker UltraShort QQQ (QID) UltraShort S&P500 (SDS) UltraShort Russell3000 (TWQ) UltraShort MidCap400 (MZZ) UltraShort SmallCap600 (SDD) UltraShort Russell2000 (TWM) UltraPro Short S&P500 (SPXU) UltraShort Russell1000 Value (SJF) UltraShort Russell1000 Growth (SFK) UltraShort Russell MidCap Value (SJL) UltraShort Russell MidCap Growth (SDK) UltraShort Russell2000 Value (SJH) UltraShort Russell2000 Growth (SKK) UltraShort Basic Materials (SMN) UltraShort Consumer Goods (SZK) UltraShort Consumer Services (SCC) UltraShort Health Care (RXD) UltraShort Industrials (SIJ) UltraShort Real Estate (SKF) UltraShort Semiconductors (SSG) UltraShort Technology (REW) UltraShort Telecommunications (TLL) UltraShort Utilities (SDP) UltraShort MSCI EAFE (EFU) UltraShort MSCI Emerging Markets (EEV) UltraShort MSCI Europe (EPV) UltraShort MSCI Pacific ex-Japan (JPX) UltraShort MSCI Brazil (BZQ) UltraShort FTSE/Xinhua China 25 (FXP) UltraShort MSCI Japan (EWV) UltraShort MSCI Mexico Investable Market (SMK) UltraShort 7-10 Year Treasury (PST) UltraShort 20+ Year Treasury (TBT) UltraShort DJ-UBS Commodity (CMD) UltraShort DJ-UBS Crude Oil (SCO) UltraShort Gold (GLL) UltraShort Silver (ZSL) UltraShort Euro (EUO) UltraShort Yen (YCS) Ultra QQQ (QLD) Ultra Dow30 (DDM) Ultra S&P500 (SSO) Ultra Russell3000 (UWC) Ultra MidCap400 (MVV) Ultra SmallCap600 (SAA) Ultra Russell2000 (UWM) UltraPro S&P500 (UPRO) Ultra Russell1000 Value (UVG) Ultra Russell1000 Growth (UKF) Ultra Russell MidCap Value (UVU) Ultra Russell MidCap Growth (UKW) Ultra Russell2000 Value (UVT) Ultra Russell2000 Growth (UKK) Ultra Basic Materials (UYM) Ultra Consumer Goods (UGE) Ultra Consumer Services (UCC) Ultra Health Care (RXL) Ultra Industrials (UXI) Ultra Oil & Gas (DIG) Ultra Real Estate (URE) Ultra Semiconductors (USD) Ultra Technology (ROM) Ultra Telecommunications (LTL) Ultra Utilities (UPW) Ultra DJ-UBS Commodity (UCD) Ultra DJ-UBS Crude Oil (UCO) Ultra Gold (UGL) Ultra Silver (AGQ) Ultra Euro (ULE) Ultra Yen (YCL) Ultra MSCI EAFE (EFO) Ultra MSCI Emerging Markets (EET) Ultra FTSE/Xinhua China 25 (XPP) Ultra MSCI Japan (EZJ)
If you purchased or otherwise acquired shares in the (DUG), (UYG), or (DXD) funds or any of the funds listed above, and either lost money on the transaction or still hold the shares, please contact Christian Siebott or Joseph R. Seidman, Jr. at (877) 779-1414.
Bernstein Liebhard has pursued hundreds of securities and consumer cases and recovered approximately $2 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last seven years.
You can view a copy of the DUG, UYG, or DXD complaints online at http://www.bernlieb.com/, or obtain them from the court.Bernstein Liebhard LLP 10 East 40th Street New York, New York 10016 (877) 779-1414 http://www.bernlieb.com/
ATTORNEY ADVERTISING. © 2009 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP