(Source: Business Wire)
Attorney Advertising. Notice is hereby given that a class action has
been commenced on behalf of all persons who purchased or otherwise
acquired shares in the Ultra Financials Fund (the "UYG Fund") (NYSE:
UYG), 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 UYG 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 investigating claims concerning ProShares UYG Fund,
Stull, Stull & Brody is also investigating claims on behalf of investors
in 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.
Fund Ticker Symbol
UltraShort QQQ (NYSE: QID)
UltraShort Dow30 (NYSE: DXD)
UltraShort S&P500 (NYSE: SDS)
UltraShort Russell3000 (NYSE: TWQ)
UltraShort MidCap400 (NYSE: MZZ)
UltraShort SmallCap600 (NYSE: SDD)
UltraShort Russell2000 (NYSE: TWM)
UltraPro Short S&P500 (NYSE: SPXU)
UltraShort Russell1000 Value (NYSE: SJF)
UltraShort Russell1000 Growth (NYSE: SFK)
UltraShort Russell MidCap Value (NYSE: SJL)
UltraShort Russell MidCap Growth (NYSE: SDK)
UltraShort Russell2000 Value (NYSE: SJH)
UltraShort Russell2000 Growth (NYSE: SKK)
UltraShort Real Estate ProShares Fund (NYSE: SRS)
UltraShort Basic Materials (NYSE: SMN)
UltraShort Consumer Goods (NYSE: SZK)
UltraShort Consumer Services (NYSE: SCC)
UltraShort Financials (NYSE: SKF)
UltraShort Health Care (NYSE: RXD)
UltraShort Industrials (NYSE: SIJ)
UltraShort Oil & Gas (NYSE: DUG)
UltraShort Real Estate (NYSE: SRS)
UltraShort Semiconductors (NYSE: SSG)
UltraShort Technology (NYSE: REW)
UltraShort Telecommunications (NYSE: TLL)
UltraShort Utilities (NYSE: SDP)
UltraShort MSCI EAFE (NYSE: EFU)
UltraShort MSCI Emerging Markets (NYSE: EEV)
UltraShort MSCI Europe (NYSE: EPV)
UltraShort MSCI Pacific ex-Japan (NYSE: JPX)
UltraShort MSCI Brazil (NYSE: BZQ)
UltraShort FTSE/Xinhua China 25 (NYSE: FXP)
UltraShort MSCI Japan (NYSE: EWV)
UltraShort MSCI Mexico Investable Market (NYSE: SMK)
UltraShort 7-10 Year Treasury (NYSE: PST)
UltraShort 20+ Year Treasury (NYSE: TBT)
UltraShort DJ-UBS Commodity (NYSE: CMD)
UltraShort DJ-UBS Crude Oil (NYSE: SCO)
UltraShort Gold (NYSE: GLL)
UltraShort Silver (NYSE: ZSL)
UltraShort Euro (NYSE: EUO)
UltraShort Yen (NYSE: YCS)
Ultra QQQ (NYSE: QLD)
Ultra Dow30 (NYSE: DDM)
Ultra S&P500 (NYSE: SSO)
Ultra Russell3000 (NYSE: UWC)
Ultra MidCap400 (NYSE: MVV)
Ultra SmallCap600 (NYSE: SAA)
Ultra Russell2000 (NYSE: UWM)
UltraPro S&P500 (NYSE: UPRO)
Ultra Russell1000 Value (NYSE: UVG)
Ultra Russell1000 Growth (NYSE: UKF)
Ultra Russell MidCap Value (NYSE: UVU)
Ultra Russell MidCap Growth (NYSE: UKW)
Ultra Russell2000 Value (NYSE: UVT)
Ultra Russell2000 Growth (NYSE: UKK)
Ultra Basic Materials (NYSE: UYM)
Ultra Consumer Goods (NYSE: UGE)
Ultra Consumer Services (NYSE: UCC)
Ultra Health Care (NYSE: RXL)
Ultra Industrials (NYSE: UXI)
Ultra Oil & Gas (NYSE: DIG)
Ultra Real Estate (NYSE: URE)
Ultra Semiconductors (NYSE: USD)
Ultra Technology (NYSE: ROM)
Ultra Telecommunications (NYSE: LTL)
Ultra Utilities (NYSE: UPW)
Ultra DJ-UBS Commodity (NYSE: UCD)
Ultra DJ-UBS Crude Oil (NYSE: UCO)
Ultra Gold (NYSE: UGL)
Ultra Silver (NYSE: AGQ)
Ultra Euro (NYSE: ULE)
Ultra Yen (NYSE: YCL)
Ultra MSCI EAFE (NYSE: EFO)
Ultra MSCI Emerging Markets (NYSE: EET)
Ultra FTSE/Xinhua China 25 (NYSE: XPP)
Ultra MSCI Japan (NYSE: EZJ)
-------------------------------------------------------------------------------
The complaint in the UYG Fund action 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"). ProShares sells its Ultra
and UltraShort ETFs as "simple" directional plays. As marketed by
ProShares, Ultra ETFs are designed to go up when markets go up;
UltraShort ETFs are designed to go up when markets go down. The UYG Fund
is one of ProShares' Ultra ETFs. The UYG Fund seeks investment results
that correspond to twice (+200%) the daily performance of the Dow Jones
U.S. Financial Index ("DJUSFI"). Accordingly, the UYG Fund is supposed
to deliver double the return of the DJUSFI, which, from January 1, 2009
through July 30, 2009, increased approximately 1.47 percent. Rather than
increase approximately 2.9 percent (double), the UYG Fund has fallen
approximately 25 percent.
The complaint alleges the Defendants violated the Securities Act by
failing to disclose the following risks, inter alia, in the Registration
Statement: (1) if UYG Fund shares 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 UYG Fund would inevitably diverge
from the performance of the DJUSFI -- i.e., the overwhelming
probability, if not certainty, of spectacular divergence.
If you purchased or otherwise acquired ProShares UYG shares, and either
lost money on the transaction or still hold the shares, you may apply to
the Court to serve as lead plaintiff in the action no later than
November 23, 2009. 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 Stull, Stull & Brody, or other counsel of your choice, to
serve as your counsel in this action. Stull, Stull & Brody has litigated
many class actions for violations of securities laws in federal courts
over the past 30 years and has obtained court approval of substantial
settlements on numerous occasions. Stull, Stull & Brody maintains
offices in New York and Los Angeles.
If you wish to discuss this action or the investigation regarding any of
the Funds listed above, or if you have any questions concerning this
notice or your rights or interests with respect to these matters, please
contact Aaron Brody, Esq. at Stull, Stull & Brody by e-mail at ssbny@aol.com,
or by calling toll-free 1-800-337-4983, or by fax to 1-212-490-2022, or
by writing to Stull, Stull & Brody, 6 East 45th Street,
New York, NY 10017. You can also visit our website at www.ssbny.com.
Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.
A service of YellowBrix, Inc.
