Notice of Deadline for Plaintiff Submissions to Investors Who Purchased or Otherwise Acquired Shares in UltraShort FTSE/Xinhua (
October 30 2009 - 10:26AM
Marketwired
The law firm of Gilman and Pastor LLP makes an announcement to all
investors in the UltraShort FTSE/Xinhua (NYSE Amex: FXP);
UltraShort Dow30 (NYSE Amex: DXD); UltraShort S&P 500 (NYSE
Amex: SDS); UltraShort Emerging Markets (NYSE Amex: EEV); and
UltraShort DJ-AIG Crude Oil (NYSE Amex: SCO) (collectively
hereinafter referred to as the "ProShares Funds") concerning the
class action lawsuits filed in the United States District Court for
the Southern District of New York. Investors only have until the
following deadlines to move to appointment as a lead plaintiff in
this case.
DEADLINE FOR PLAINTIFF SUBMISSIONS
November 3, 2009 ProShares EEV Fund
November 23, 2009 ProShares DUG, UYG, SDS, SCO and FXP Funds
November 30, 2009 ProShares DXD Fund
The ProShares Funds are exchange-traded funds ("ETF") offered by
ProShares Trust ("ProShares") and Plaintiffs and class members were
damaged pursuant or traceable to ProShares' false and misleading
Registration Statement, Prospectuses, and Statements of Additional
Information. The Plaintiffs seek a Class and Subclasses for each of
the Funds purchased by the Plaintiffs. The Class is seeking
recovery for investors under Sections 11 and 15 of the Securities
Act of 1933 (the "Securities Act").
ProShares sells its UltraShort ETFs as "simple" directional
plays. As marketed by ProShares, UltraShort ETFs are designed to go
up when markets go down. The Funds correspond to twice the inverse
(-200%) daily performance or twice the performance of a designated
benchmark Index. The complaint alleges the Defendants violated the
Securities Act by failing to disclose that the Funds are altogether
defective as a securities product and as directional investment
play.
If you bought shares in any of the ProShares Funds and either
lost in excess of $200,000.00 or still hold the shares, and would
like to consider serving as lead plaintiff or have any questions
about the lawsuit, please contact Kenneth G. Gilman, Esq. of Gilman
and Pastor, at (888) 252-0048, or via email at
info@gilmanpastor.com.
A Lead Plaintiff is a court-appointed representative for absent
class members. You do not need to seek appointment as Lead
Plaintiff to share in any class recovery in this action. You may
retain counsel of your choice to represent you in this action.
If you are a member of this class you can view a copy of the
complaint, obtain more information and join in the class action
online at http://www.proshares-lawsuit.com.
Plaintiffs are represented by the law firm Gilman and Pastor
LLP. Gilman and Pastor LLP is one of the country's premier national
law firms that represent institutional and individual investors in
class action, complex securities and corporate governance
litigation. The firm has been a champion of investor rights for
over 30 years and has been recognized for its reputation for
excellence by the courts.
CONTACT: Kenneth G. Gilman, Esq. Attorney Gilman and Pastor, LLP
28100 Bonita Grande Drive Suite 105 Bonita Springs, FL 34135
kgilman@gilmanpastor.com (888) 252-0048 (508) 291-3258 Fax
www.gilmanpastor.com
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