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SAN FRANCISCO, Feb. 04, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP alerts investors in ProShares Short VIX Short-Term Futures ETF (“the Fund” or “SVXY”) of the April 1, 2019 Lead Plaintiff deadline in the securities class action pending in the United States District Court for the Southern District of New York. If you purchased or otherwise acquired SVXY securities between May 12, 2017 and February 5, 2018 (the “class period”) and suffered $1,000,000 or more in losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
According to the complaint, Defendants made false and misleading statements and/or failed to disclose adverse information regarding the risks of investing in the Fund.
More specifically, the complaint alleges Defendants did not 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.
When, on February 5, 2018 stock markets and indices experienced unusually high volatility and declined, the price of SVXY shares fell 32% and continued to fall.
“We’re focused on investors’ losses and the extent to which Defendants’ statements may have misled investors,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding the Fund should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email SVXY@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 80+ attorneys in 10 offices across the country. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000