Class Action Suit Against ProShares Dismissed
NEW YORK ( TheStreet) -- Reuters reporter Jessica Toonkel reported Monday that Judge John G. Koeltl, of the United States District Court for the Southern District of New York, dismissed a class-action lawsuit against ProShares filed by investors in exchanged-traded funds who claimed the risks associated with investing in leveraged ETFs were not fully disclosed.
At the time of the filing in August 2009, I
Judge Koeltl apparently
The company was pleased by the ruling."We have maintained since the beginning of this case that the allegations were wholly without merit, and we are pleased that the claims have been dismissed in their entirety," said Amy Doberman, ProShares' general counsel, in a
At the time of publication the author had no position in any of the stocks mentioned. This article was written by an independent contributor, separate from TheStreet's regular news coverage.
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