NEW YORK, Nov. 25, 2009 (GLOBE NEWSWIRE) -- Pomerantz Haudek Grossman & Gross LLP is investigating claims in ProShares' UltraShort Dow 30 Fund ("the DXD Fund") (NYSE:DXD), on behalf of all persons who purchased or otherwise acquired shares in the DXD Fund, an exchange-traded fund ("ETF") offered by ProShares Trust ("ProShares"), pursuant or traceable to ProShares' false and misleading Registration Statement, Prospectuses, and Statements of Additional Information issued in connection with the DXD Fund's shares.
The DXD Fund is an inverse leveraged ETF that seeks investment returns that are two times the inverse performance of the Dow Jones U.S. Industrial Average. The investigation centers on the allegation that the registration statement filed by ProShares failed to adequately disclose that DXD shares should not be held more than a single trading day and were not an appropriate hedge against a decline in Dow 30 stocks.
Pomerantz is also investigating other ETF funds including, ProShares' UltraShort Oil & Gas (NYSE:DUG), ProShares' Ultra Financials Fund (NYSE:UYG), ProShares' UltraShort MSCI Emerging Markets Fund (NYSE:EEV), ProShares' UltraShort FTSE/Xinhua Fund (NYSE:FXP), ProShares' UltraShort DJ-AIG-Crude Oil Fund (NYSE:SCO) and ProShares' UltraShort S&P 500 Fund (NYSE:SDS).
Those who invested are advised to contact Jeremy Lieberman at 888-476-6529 or 212-661-1100 or jalieberman@pomlaw.com . Pomerantz has prosecuted securities fraud claims for 70 years, and is regarded as one of the country's premier class action firms. The firm has offices in New York City, Chicago, Washington, D.C., Burlingame, CA. and Columbus, Ohio.