ProShares Short VIX Short-Term Futures ETF (SVXY)
Hagens Berman Sobol Shapiro LLP reminds investors in ProShares Short VIX Short-Term Futures ETF (“the Fund” or “SVXY”) (NYSEArca: SVXY) of the April 1, 2019 Lead Plaintiff deadline in the securities class action pending in the U.S. District Court for the Southern District of New York.
If you purchased or otherwise acquired shares of SVXY between May 12, 2017 and February 5, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information, contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing SVXY@hbsslaw.com.
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.
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