Processing your request

please wait...

Case Page


Case Status:    ONGOING    
On or around 01/30/2019 (Ongoing date of last review)

Filing Date: January 29, 2019

Plaintiff's law firm issued a press release on January 29, 2019, announcing the filing of the Complaint. According to the press release, the Complaint charges ProShares Trust II, ProShares Capital Management LLC, certain of their officers and/or directors and the underwriters of SVXY shares offered for sale during the Class Period with violations of the Securities Exchange Act of 1934 and the Securities Act of 1933. The CBOE Volatility Index, or “VIX,” seeks to measure the expected volatility of the S&P 500. The Fund is benchmarked to the S&P 500 VIX Short-Term Futures Index (the “Index”), an investable index of VIX futures contracts. The investment objective for the Fund during the Class Period was to achieve results for a single day that matched (before fees and expenses) the inverse (-1x) of the daily performance of the Index.

The Complaint alleges that, 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 substantially similar false and misleading statements as those contained in the Registration Statement in numerous financial reports and draft prospectuses and registration statements filed with the SEC.


Sector: Financial
Industry: Investment Services
Headquarters: United States


Ticker Symbol: SVXY
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data

"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 19-CV-00886
JUDGE: Hon. Ronnie Abrams
DATE FILED: 01/29/2019
CLASS PERIOD END: 02/05/2018
  1. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available