Stull, Stull & Brody Files Class Action Lawsuit on Behalf of Investors in ProShares UltraShort S&P500 Fund.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- The law firm of Stull stull n. 1. A supporting timber or other prop in a mine. 2. A platform braced against the sides of a working area in a mine. , Stull & Brody Brody (Ukrainian: Броди, Polish: Brody, Russian: Броды announces that it has filed on November 9, 2009 a class action complaint in the U.S. District Court for the Southern District of New York on behalf of all persons who purchased or otherwise acquired shares in the ProShares UltraShort ul·tra·short adj. 1. Of or relating to radio waves with a wavelength less than 10 meters (33 feet). 2. Of extremely short duration: an ultrashort flash. 3. S&P500 Fund (the "SDS 1. (company) SDS - Scientific Data Systems. 2. (tool) SDS - Schema Definition Set. Fund") (NYSE NYSE See: New York Stock Exchange : SDS), an exchange-traded fund Exchange-traded funds (or ETFs) are Open Ended investment companies that can be traded at any time throughout the course of the day. Typically, ETFs try to replicate a stock market index such as the S&P 500 (e.g. ("ETF ETF See Exchange Traded Fund. ETF See 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 SDS 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 the claims concerning ProShares SDS Fund, Stull, Stull & Brody is also investigating claims on behalf of investors in other 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 in·var·i·a·ble adj. Not changing or subject to change; constant. in·var  i·a·bil diverge diverge - If a series of approximations to some value get progressively further from it then the series is said to diverge.The reduction of some term under some evaluation strategy diverges if it does not reach a normal form after a finite number of reductions. from the performance of the benchmark. Fund < Ticker Symbol UltraShort QQQ < (NYSE: QID) UltraShort Dow30 < (NYSE: DXD) 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 Basic Materials < (NYSE: SMN) UltraShort Consumer Goods < (NYSE: SZK) UltraShort Consumer Services < (NYSE: SCC) UltraShort Health Care < (NYSE: RXD) UltraShort Industrials < (NYSE: SIJ) UltraShort Oil & Gas < (NYSE: DUG) 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 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 names ProShares, ProShare Advisors LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , SEI Investments Distribution Co., Michael L. Sapir, Louis M. Mayberg, Russell S Russell, English noble family. It first appeared prominently in the reign of Henry VIII when John Russell, 1st earl of Bedford, 1486?–1555, rose to military and diplomatic importance. . Reynolds, III, Michael Wachs, and Simon D. Collier as defendants (collectively, "Defendants"). ProShares sells its Ultra and UltraShort ETFs as "simple" directional In one direction. Contrast with omnidirectional. 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 SDS Fund is one of ProShares' UltraShort ETFs. The SDS Fund seeks investment results that correspond twice (200%) the inverse (mathematics) inverse - Given a function, f : D -> C, a function g : C -> D is called a left inverse for f if for all d in D, g (f d) = d and a right inverse if, for all c in C, f (g c) = c and an inverse if both conditions hold. (opposite) of the daily performance of the S&P 500 Index. Accordingly, the SDS Fund is supposed to deliver double the inverse of the return of the S&P 500 Index, which increased approximately six percent from January 1, 2009 through July 30, 2009. In other words Adv. 1. in other words - otherwise stated; "in other words, we are broke" put differently , the SDS Fund should have declined by twelve percent during this period. However, the SDS Fund fell approximately 29 percent during this period. The complaint alleges the Defendants violated vi·o·late tr.v. vi·o·lat·ed, vi·o·lat·ing, vi·o·lates 1. To break or disregard (a law or promise, for example). 2. To assault (a person) sexually. 3. the Securities Act by failing to disclose the following risks, inter alia [Latin, Among other things.] A phrase used in Pleading to designate that a particular statute set out therein is only a part of the statute that is relevant to the facts of the lawsuit and not the entire statute. , in the Registration Statement: (1) if SDS 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 SDS Fund would inevitably diverge from the performance of the S&P 500 Index -- i.e., the overwhelming probability, if not certainty, of spectacular divergence divergence In mathematics, a differential operator applied to a three-dimensional vector-valued function. The result is a function that describes a rate of change. The divergence of a vector v is given by . If you purchased or otherwise acquired ProShares SDS 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. A "lead plaintiff" is a representative party that acts on behalf of other class members in directing the litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called 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 CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or , 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 40 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody maintains offices in New York and Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . 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. |
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