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Case Status:    ONGOING    
On or around 06/22/2022 (Date of last review)

Filing Date: June 16, 2022

According to the Complaint, Direxion Shares ETF Trust is a Delaware statutory trust and a registered investment company offering a variety of exchange-traded funds (ETFs), including JNUG & NUGT, as listed and traded on the NYSE Arca, Inc.

The Complaint alleges that throughout the Class Period, Direxion provided fraudulent and misleading information in its public disclosures, from the registration to the following SEC information disclosures; that all of the Direxion 3x or 2x leveraged ETFs, by its design, are shorting tools, no matter the bull or bear in their names, and that Direxion and all responsible defendants knew it either in Funds’ design or in operation, and tried all the ways to cover the truth in its public disclosures. Finally, the Complaint alleges that Direxion practiced all tactics to deceive and mislead investors, control and manipulate prices to serve its illegal market manipulation purposes.

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