Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of ProShares Short VIX Short-Term Futures ETF Investors (SVXY)
BENSALEM, Pa.--(BUSINESS WIRE)--Jan 31, 2019--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that acquired ProShares Short VIX Short-Term Futures ETF (“SVXY” or the “Fund”) (NYSE: SVXY ) pursuant to the May 15, 2017 Registration Statement and/or between May 15, 2017 and February 5, 2018 (the “Class Period”). SVXY investors have until April 1, 2019 to file a lead plaintiff motion.
The complaint filed in this class action alleges that during the Class Period and the Registration Statement, 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 substantially similar false and misleading statements as those contained in the Registration Statement in numerous financial reports and draft prospectuses and registration statements filed with the SEC.
If you purchased shares of SVXY, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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CONTACT: Law Offices of Howard G. Smith
Howard G. Smith, Esquire
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Law Offices of Howard G. Smith
Copyright Business Wire 2019.
PUB: 01/31/2019 04:58 PM/DISC: 01/31/2019 04:57 PM