Levi & Korsinsky announces the commencement of a class action in the United States District Court for the Southern District of New York on behalf of purchasers of 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.
According to the complaint in the Registration Statement and during 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.
If you suffered a loss in the Fund you have until April 1, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.