Federal Judge Tosses Geared ETF Class Action

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A federal district court has dismissed a class action against 44 ProShares exchange-traded funds (“ETFs”), their investment adviser, officers and trustees.

In granting defendants’ motion to dismiss, the federal district court for the Southern District of New York unambiguously stated that “the disclosures in the registration statements accurately conveyed the specific risks that the plaintiffs assert materialized.”

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Published In: Business Organization Updates, Business Torts Updates, Civil Procedure Updates, Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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