Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Southern District of New York on behalf of investors in ProShares Short VIX Short-Term Futures ETF (“the Fund”) (NYSEArca: SVXY) securities pursuant to the May 15, 2017 Registration Statement and/or between May 15, 2017 and February 5, 2018.
The filed complaint alleges that in the Registration Statement and during the Class Period, defendants made false and misleading statements and/or failed to disclose adverse information regarding the risks of investing in the Fund. Specifically, the Registration Statement failed to disclose that the Fund was threatened with catastrophic losses as a result of the Fund’s flawed design and the low-volatility environment and acute liquidity risks that existed during the Class Period. In addition, during the Class Period defendants made similar false and misleading statements in numerous financial reports and draft prospectuses and registration statements filed with the SEC.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Investors have until April 1, 2019 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
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