Pomerantz Law Firm Investigating Claims On Behalf of Investors in ProShares’ UltraShort FTSE/Xinhua Fund
(GLOBE NEWSWIRE) — Pomerantz Haudek Grossman & Gross LLP has filed a class action (09-cv-06935) on behalf of investors of ProShares UltraShort Financials Fund (SKF). The Firm is investigating claims in ProShares’ UltraShort FTSE/Xinhua Fund (“the FXP Fund”) (NYSE:FXP), on behalf of all persons who purchased or otherwise acquired shares in the FXP Fund, an exchange-traded fund (“ETF”) offered by ProShares Trust (“ProShares”), pursuant or traceable to ProShares’ false and misleading Registration Statement, Prospectuses, and Statements of Additional Information issued in connection with the FXP Fund’s shares.
The FXP Fund is an inverse leveraged ETF that seeks investment returns that are two times the inverse performance of the FTSE/Xinhua China 25 Index. The investigation centers on the allegation that the registration statement filed by ProShares failed to adequately disclose that FXP shares should not be held more than a single trading day and were not an appropriate hedge against a decline in the performance of the index.
Those who invested are advised to contact Jeremy Lieberman at 888-476-6529 or 212-661-1100 or jalieberman@pomlaw.com. Pomerantz has prosecuted securities fraud claims for 70 years, and is regarded as one of the country’s premier class action firms. The firm has offices in New York City, Chicago, Washington, D.C., Burlingame, CA. and Columbus, Ohio.
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CONTACT: Pomerantz Haudek Block Grossman & Gross LLP
Teresa Webb
(888) 476.6529
(888) 4.POMLAW
tlwebb@pomlaw.com
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