ProShares hit by lawsuits over leveraged ETFS

Each action accuses the defendants of violating the US Securities Act by "failing to disclose that [the fund] is altogether defective as a directional investment play, failing to perform anywhere near investor's reasonable expectations."

It highlights that while the Dow Jones US Financials index fell 51.03% between January 2, 2008 and December 17, 2008, the 200% inverse fund managed by ProShares rose 1.06%. The Real Estate fund fell 48.2% over the same period, states the complaint, while the Dow

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