LOS ANGELES, March 08, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against ProShares Trust II on behalf of purchasers of the ProShares Short VIX Short-Term Futures ETF (“SVXY” or “the Fund”) (NYSEArca: SVXY) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares pursuant to the May 15, 2017, Registration Statement and/or between May 15, 2017 and February 5, 2018, inclusive (the ''Class Period''), are encouraged to contact the firm before April 1, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. The Fund’s Registration Statement did not disclose that due to a low-volatility trading environment, liquidity risks, and systemic design flaws, the Fund was susceptible to suffering calamitous losses. Throughout the class period, the defendants made similar false and materially misleading statements. When the market learned the truth about SVXY, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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