The Klein Law Firm announces that a class action complaint has been filed on behalf of investors who purchased 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 action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
The complaint alleges that in the Registration Statement and throughout 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.
Investors have until April 1, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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