ProShares Leverage ETF Class Action Lawsuits
Zamansky & Associates has been retained by investors who purchased shares of the UltraShort Real Estate ProShares fund (SRS Fund), an exchange-traded fund (ETF) offered by ProShares Trust, self-described as “the world’s largest manager of short and leveraged funds.” We are also investigating cases on behalf of other investors who purchased shares of the following ProShares Trust funds:
ProShares Ultra DJ-AIG Commodity ETF (UCD)
ProShares Ultra DJ-AIG Crude Oil ETF (UCO)
ProShares Ultra Financials ETF (UYG)
ProShares Ultra Oil & Gas ETF (DIG)
ProShares UltraShort DJ-AIG Crude Oil ETF (SCO)
ProShares UltraShort Financials ETF (SKF)
ProShares UltraShort Oil & Gas ETF (DUG)
UltraShort QQQ (NASDAQ 100 Index) (QID) and Ultra QQQ (QLD)
UltraShort S&P 500 (SDS) and Ultra S&P 500
UltraShort MidCap 400 (MZZ) and Ultra MidCap 400 (MUV)
UltraShort Small Cap 600 (SDD) and Ultra Small Capital (SAA)
UltraShort Russell 2000 (TWN) and Ultra Russell 2000 (UVM)
UltraShort Russell 1000 Value (SJF) and Ultra Russell 1000 Value (UVG)
UltraShort Russell Midcap Value (SJL) and Ultra Russell MidCap Value
Ultra and UltraShort Russell 2000 Value (SJH)
Ultra and UltraShort Russell 2000 Growth (SKK)
Ultra and UltraShort Basic Materials (SMN)
Ultra and UltraShort Consumer Services (SCC)
Ultra and UltraShort HealthCare (RXD)
Ultra and UltraShort Industrials (SIJ)
Ultra and UltraShort Semiconductors (SSG)
Ultra and UltraShort Technology (REW)
Ultra and UltraShort Telecom (TLL)
Ultra Real Estate Fund
UltraShort Emerging Markets (EEV)
UltraShort FTSE/Xinhua (FXP)
UltraShort DJ - AIG - Crude Oil (SCO)
UltraShort Gold (GLL)
We are also investigating these ProShares funds.
It is alleged that in marketing and selling these funds to investors, ProShares Trust and their brokerage partners provided false and misleading statements in connection with the funds’ prospectuses, registration statements and other information.
These funds are allegedly marketed as “directional” plays allowing investors to bet for or against a specific market. For example, the SRS fund was suppose to produce twice the inverse of the Dow Jones U.S. Real Estate Market, similar to shorting stocks. Investors that purchased shares in the SRS Fund correctly predicting a downturn in the real estate market expected their investment to appreciate, but because of an alleged tracking error, the SRS Fund actually fell approximately 48.2 percent during a period that extended from January 2, 2008 through December 2008.
Additionally, investors in the above funds allege that ProShares Trust:
- Failed to disclose the long term risks and inverse relationship between the funds’ and indexes
- The negative consequences of market volatility
- The negative effects of the funds’ daily adjustments
- That leverage ETF’s are unsuitable investments
If you are someone you know was invested in one of these funds, or another leverage ETF, please contact Zamansky & Associates by clicking here or by calling (212) 742-1414.