The UltraShort Real Estate ProShares fund is an exchange-traded fund (ETF) that is designed to go up when markets go down. When the stock market fell during 2008 and 2009, investors were expecting a profit. However, instead of rising while the stock market fell, the fund also fell during this period. The UltraShort Real Estate ProShares fund failed to do what it was designed, represented, and advertised to do. ProShares is the subject of a current investigation by Morgan & Morgan because it allegedly failed to disclose the risks associated with these shares to investors. The Registration Statement should have made it clear to investors that the fund would perform in a manner that was completely opposite of investors’ expectations.
The investment fraud attorneys at Morgan & Morgan are dedicated to obtaining justice for victims of securities fraud and misconduct. Currently, our attorneys are not taking claims for this class action case.