Notice to All Proshare Advisors UltraShort Real Estate Investors From the Securities Law Firm of Tramont Guerra & Nunez, PA
CORAL GABLES, FL--(Marketwire - August 14, 2009) - The Securities Law Firm of Tramont Guerra
& Núñez, PA (TGN) makes an announcement to all investors in the Proshare Advisors UltraShort Real Estate ETF
August, 5, 2009, in the United States District Court District of Southern
District of New York. The class action lawsuit was filed on behalf of
investors in the Proshare UltraShort Real Estate Fund who suffered
investment losses. The lawsuit alleges that Proshare Advisors, LLC failed
to properly structure the Exchange Traded Fund (ETF) to perform in a manner
which was consistent with representations made in the prospectus. In this
instance, the Proshare UltraShort ETF price failed to move with a 200%
inverse correlation relative to the underlying tracking index, the Dow
Jones Real Estate Index (DJI:DJURSE), which resulted in the losses
sustained by investors. In fact, the lawsuit asserts that from January 2,
2008 through December 17, 2008, the tracking index declined 39.20% while
the Proshare UltraShort Real Estate ETF declined 48.20%, instead of a
78.40% gain which was projected by Proshares Advisors, LLC. Prospective
class members should consider whether an individual securities arbitration
claim filed with the Financial Industry
Regulatory Authority, (FINRA) is more effective than a class action for
recovery of their investment losses.
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Regulators recently warned about the unsuitable nature of leveraged and
inversely correlated ETFs for retail investors. Contrary to these
pronouncements, many investors were advised by their financial advisors
that leveraged and inversely correlated ETFs were suitable for retail
investors. Brokerage firms are obligated to give, and investors are
entitled to rely upon, brokerage firms for competent, suitable investment
advice in accordance with the FINRA Sales Practice Rules and Regulations.
Recommendations of unsuitable investments are causes of action that form
the basis for individual securities arbitration claims filed with FINRA.
The Securities Law Firm of Tramont Guerra & Núñez, PA, is a nationally
recognized, Martindale Hubbell "AV" rated securities
law firm. To request a confidential consultation from a TGN attorney
to determine whether you have a viable individual securities arbitration
claim for investment losses that exceed $100,000 from a full service
brokerage account, contact us on our website. To speak directly with an
attorney, call (800) 578-0137 and ask for Ben Fernandez, Esquire.
Destination URL:
http://www.stockmarketlosslawyer.com/press-releases/class-action-lawsuits-proshares.htm
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