(Source: MARKETWIRE)
The law firm of Gilman and Pastor LLP makes an announcement to all
investors in Direxion Financial Bear 3X Shares (NYSE: FAZ) concerning
the class action lawsuit filed on September 18, 2009 in the United
States District Court for the Southern District of New York.
Investors only have until Tuesday, November 17, 2009 to move for
appointment as a lead plaintiff in this case. The Class is seeking
recovery for investors under Sections 11 and 15 of the Securities Act
of 1933 (the "Securities Act").
The class action lawsuit was filed on behalf of investors in the
Direxion FAZ Fund who suffered investment losses. The FAZ Fund seeks
investment results that correspond to three times the inverse (-300%)
daily performance of the Russell 1000 Financial Services Index
("RFSI"), which measures the performance of the financial services
sector of the U.S. equity market. The complaint alleges the
Defendants violated the Securities Act by failing to disclose that
the FAZ Fund is altogether defective as a directional investment
play.
If you purchased or otherwise acquired shares in the FAZ Fund and
either lost in excess of $200,000. or still hold the shares, you may
wish to join in the action to serve as Lead Plaintiff. In order to
do so, you must meet certain requirements set forth in the applicable
law and file appropriate papers no later than November 17, 2009. If
you have any questions about the lawsuit or would like additional
information, 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 may retain counsel of your choice to represent you in
this action. If you are a member of the class, you can view a copy of
the complaint, obtain more information and join in the class action
online at http://direxion-faz-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.
CONTACTS:
Kenneth G. Gilman, Esq.
Attorney
Gilman and Pastor, LLP
28100 Bonita Grande Drive
Suite 105
Bonita Springs, FL 34135
www.gilmanpastor.com
info@gilmanpastor.com
(888) 252-0048
(508) 291-3258 Fax
SOURCE: Gilman and Pastor LLP
A service of YellowBrix, Inc.
