Robbins Geller Rudman & Dowd LLP Updates Notice of Class Action Suit against Proshares Trust II
NEW YORK--(BUSINESS WIRE)--Feb 6, 2019--Robbins Geller Rudman & Dowd LLP ( http://www.rgrdlaw.com/cases/proshares/ ) has commenced the first securities class action on behalf of purchasers of ProShares Short VIX Short-Term Futures ETF (“SVXY” or the “Fund”) (NASDAQ:SVXY) pursuant to the May 15, 2017 Registration Statement and/or between May 15, 2017 and February 5, 2018 (the “Class Period”). This action was filed in the Southern District of New York and is captioned Ford v. ProShares Trust II, et al., No. 19-cv-00886, and assigned to Judge Ronnie Abrams. On February 4, 2019, Judge Abrams ordered, pursuant to the Private Securities Litigation Reform Act of 1995, that any member of the putative class may move the Court to be appointed as lead plaintiff not later than 60 days after publication of notice of the action. As Robbins Geller published notice of the filing of the action on January 29, 2019, motions for appointment as lead plaintiff are due by April 1, 2019.
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased shares of SVXY pursuant to the Registration Statement and/or during the Class Period to seek appointment as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Samuel H. Rudman or David A. Rosenfeld of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at email@example.com. You can view a copy of the complaint as filed at http://www.rgrdlaw.com/cases/proshares/.
Plaintiff seeks to recover damages on behalf of all purchasers of SVXY shares pursuant to the Registration Statement and/or during the Class Period (the “Class”). The plaintiff is represented by Robbins Geller, which has extensive experience in prosecuting investor class actions including actions involving financial fraud.
Robbins Geller is one of the world’s leading law firms representing investors in securities litigation. With 200 lawyers in 10 offices, Robbins Geller has obtained many of the largest securities class action recoveries in history. For five consecutive years, ISS Securities Class Action Services has ranked the Firm in its annual SCAS Top 50 Report as one of the top law firms in both amount recovered for shareholders and total number of class action settlements. Robbins Geller attorneys have helped shape the securities laws and recovered tens of billions of dollars on behalf of aggrieved victims. Beyond securing financial recoveries for defrauded investors, Robbins Geller also specializes in implementing corporate governance reforms, helping to improve the financial markets for investors worldwide. Please visit http://www.rgrdlaw.com for more information.
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CONTACT: Robbins Geller Rudman & Dowd LLP
Samuel H. Rudman, 800-449-4900
David A. Rosenfeld
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Robbins Geller Rudman & Dowd LLP
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PUB: 02/06/2019 08:00 PM/DISC: 02/06/2019 08:01 PM