SOURCE: Gilman and Pastor LLP

October 30, 2009 11:08 ET

Notice of Deadline for Plaintiff Submissions to Investors Who Purchased or Otherwise Acquired Shares in Direxion Daily Financial Bear 3X Shares (NYSE: FAZ) From the Law Firm of Gilman and Pastor LLP

BONITA SPRINGS, FL--(Marketwire - October 30, 2009) - The law firm of Gilman and Pastor LLP makes an announcement to all investors in Direxion Financial Bear 3X Shares (NYSE: FAZ) concerning the class action lawsuit filed on September 18, 2009 in the United States District Court for the Southern District of New York. Investors only have until Tuesday, November 17, 2009 to move for appointment as a lead plaintiff in this case. The Class is seeking recovery for investors under Sections 11 and 15 of the Securities Act of 1933 (the "Securities Act").

The class action lawsuit was filed on behalf of investors in the Direxion FAZ Fund who suffered investment losses. The FAZ Fund seeks investment results that correspond to three times the inverse (-300%) daily performance of the Russell 1000 Financial Services Index ("RFSI"), which measures the performance of the financial services sector of the U.S. equity market. The complaint alleges the Defendants violated the Securities Act by failing to disclose that the FAZ Fund is altogether defective as a directional investment play.

If you purchased or otherwise acquired shares in the FAZ Fund and either lost in excess of $200,000. or still hold the shares, you may wish to join in the action to serve as Lead Plaintiff. In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers no later than November 17, 2009. If you have any questions about the lawsuit or would like additional information, please contact Kenneth G. Gilman, Esq. of Gilman and Pastor, at (888) 252-0048, or via email at

A Lead Plaintiff is a court-appointed representative for absent class members. You may retain counsel of your choice to represent you in this action. If you are a member of the class, you can view a copy of the complaint, obtain more information and join in the class action online at

Plaintiffs are represented by the law firm Gilman and Pastor LLP. Gilman and Pastor LLP is one of the country's premier national law firms that represent institutional and individual investors in class action, complex securities and corporate governance litigation. The firm has been a champion of investor rights for over 30 years and has been recognized for its reputation for excellence by the courts.

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