Investors File Securities Class Action Lawsuit Against ProShares and ProShare Advisors LLC Over ProShares Ultra Basic Materials Exchange Traded Fund (ETF)
A securities class action lawsuit was filed against ProShares and ProShare Advisors LLC in the United States District Court for the Southern District of New York on behalf of purchasers of shares in the ProShares Ultra Basic Materials Fund (“UYM”) ETF offered by ProShares Trust pursuant or traceable to ProShares’ Registration Statement, ProShares Prospectuses and ProShares Statements of Additional Information, for violations of the federal securities laws, according to a securities class action lawsuit filing news report.
The ProShares Ultra Basic Materials fund (UYM) ETF securities class action lawsuit complaint reportedly alleges that ProShares violated sections 11 and 15 of the Securities Act of 1933 by, among other things, failing disclose certain risks in the ProShares registration statement relating to the likelihood of divergence between performance of the ProShares Ultra Basic Materials fund (UYM) and the Dow Jones U.S. Basic Materials Index (“DJBMI”).
If You Have Thoughts On The ProShares Ultra Basic Materials fund (UYM) ETF Class Action Lawsuit, Share Your Class Action Comments Below.