SOURCE: Bernstein Liebhard LLP

November 12, 2009 17:14 ET

Certain Proshares ETF Funds Submission Deadlines for Investors Announced by Bernstein Liebhard LLP

NEW YORK, NY--(Marketwire - November 12, 2009) - Bernstein Liebhard LLP has filed a case against ProShares Trust ("ProShares") concerning ProShares' DUG (NYSE: DUG) fund. This complaint alleges that ProShares, as well as others, violated the Securities Act of 1933 by failing to disclose the following risks, inter alia, in the Registration Statement, Prospectuses, and Statements of Additional Information issued in connection with shares of the DUG fund: (1) if shares of the DUG fund were held for a time period longer than one day, the likelihood of catastrophic losses was huge; and (2) the extent to which performance of the DUG fund would inevitably diverge from the performance of its benchmark -- i.e., the overwhelming probability, if not certainty, of spectacular divergence.

The current lead plaintiff deadlines for the various ProShares funds are as follows:

DUG, UYG-11/23/09
DXD-11/30/09

A "lead plaintiff" is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as lead plaintiff. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Bernstein Liebhard LLP, or other counsel of your choice, to serve as your counsel in this action.

Bernstein Liebhard is also investigating claims on behalf of investors in all other ProShares leveraged funds (see list below).

Fund                                       Ticker
UltraShort QQQ                             NYSE: QID
UltraShort S&P500                          NYSE: SDS
UltraShort Russell3000                     NYSE: TWQ
UltraShort MidCap400                       NYSE: MZZ
UltraShort SmallCap600                     NYSE: SDD
UltraShort Russell2000                     NYSE: TWM
UltraPro Short S&P500                      NYSE: SPXU
UltraShort Russell1000 Value               NYSE: SJF
UltraShort Russell1000 Growth              NYSE: SFK
UltraShort Russell MidCap Value            NYSE: SJL
UltraShort Russell MidCap Growth           NYSE: SDK
UltraShort Russell2000 Value               NYSE: SJH
UltraShort Russell2000 Growth              NYSE: SKK
UltraShort Basic Materials                 NYSE: SMN
UltraShort Consumer Goods                  NYSE: SZK
UltraShort Consumer Services               NYSE: SCC
UltraShort Health Care                     NYSE: RXD
UltraShort Industrials                     NYSE: SIJ
UltraShort Real Estate                     NYSE: SKF
UltraShort Semiconductors                  NYSE: SSG
UltraShort Technology                      NYSE: REW
UltraShort Telecommunications              NYSE: TLL
UltraShort Utilities                       NYSE: SDP
UltraShort MSCI EAFE                       NYSE: EFU
UltraShort MSCI Emerging Markets           NYSE: EEV
UltraShort MSCI Europe                     NYSE: EPV
UltraShort MSCI Pacific ex-Japan           NYSE: JPX
UltraShort MSCI Brazil                     NYSE: BZQ
UltraShort FTSE/Xinhua China 25            NYSE: FXP
UltraShort MSCI Japan                      NYSE: EWV
UltraShort MSCI Mexico Investable Market   NYSE: SMK
UltraShort 7-10 Year Treasury              NYSE: PST
UltraShort 20+ Year Treasury               NYSE: TBT
UltraShort DJ-UBS Commodity                NYSE: CMD
UltraShort DJ-UBS Crude Oil                NYSE: SCO
UltraShort Gold                            NYSE: GLL
UltraShort Silver                          NYSE: ZSL
UltraShort Euro                            NYSE: EUO
UltraShort Yen                             NYSE: YCS
Ultra QQQ                                  NYSE: QLD
Ultra Dow30                                NYSE: DDM
Ultra S&P500                               NYSE: SSO
Ultra Russell3000                          NYSE: UWC
Ultra MidCap400                            NYSE: MVV
Ultra SmallCap600                          NYSE: SAA
Ultra Russell2000                          NYSE: UWM
UltraPro S&P500                            NYSE: UPRO
Ultra Russell1000 Value                    NYSE: UVG
Ultra Russell1000 Growth                   NYSE: UKF
Ultra Russell MidCap Value                 NYSE: UVU
Ultra Russell MidCap Growth                NYSE: UKW
Ultra Russell2000 Value                    NYSE: UVT
Ultra Russell2000 Growth                   NYSE: UKK
Ultra Basic Materials                      NYSE: UYM
Ultra Consumer Goods                       NYSE: UGE
Ultra Consumer Services                    NYSE: UCC
Ultra Health Care                          NYSE: RXL
Ultra Industrials                          NYSE: UXI
Ultra Oil & Gas                            NYSE: DIG
Ultra Real Estate                          NYSE: URE
Ultra Semiconductors                       NYSE: USD
Ultra Technology                           NYSE: ROM
Ultra Telecommunications                   NYSE: LTL
Ultra Utilities                            NYSE: UPW
Ultra DJ-UBS Commodity                     NYSE: UCD
Ultra DJ-UBS Crude Oil                     NYSE: UCO
Ultra Gold                                 NYSE: UGL
Ultra Silver                               NYSE: AGQ
Ultra Euro                                 NYSE: ULE
Ultra Yen                                  NYSE: YCL
Ultra MSCI EAFE                            NYSE: EFO
Ultra MSCI Emerging Markets                NYSE: EET
Ultra FTSE/Xinhua China 25                 NYSE: XPP
Ultra MSCI Japan                           NYSE: EZJ

If you purchased or otherwise acquired shares in the DUG, UYG, or DXD funds or any of the funds listed above, and either lost money on the transaction or still hold the shares, please contact Christian Siebott or Joseph R. Seidman, Jr. at (877) 779-1414.

Bernstein Liebhard has pursued hundreds of securities and consumer cases and recovered approximately $2 billion for its clients. It has been named to The National Law Journal's "Plaintiffs' Hot List" in each of the last seven years.

You can view a copy of the DUG, UYG, or DXD complaints online at http://www.bernlieb.com, or obtain them from the court.

Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
(877) 779-1414
www.bernlieb.com

ATTORNEY ADVERTISING. © 2009 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information

  • Contact Information
    Christian Siebott
    Joseph R. Seidman, Jr.
    Bernstein Liebhard LLP
    http://www.bernlieb.com
    (212) 779-1414