(Source: MARKETWIRE)
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
SOURCE: Gilman and Pastor LLP
A service of YellowBrix, Inc.
