ProShares Named in Lawsuit

The Wall Street Journal is reporting that a lawsuit seeking class-action status has been filed against ProShares.

According to the report, the lawsuit claims that ProShares Advisors and others violated a securities act by failing to disclose risks inherent in its ProShares UltraShort Real Estate fund(SRS).

SRS seeks daily results, before fees and expenses, that correspond to twice the opposite of the daily performance of the Dow Jones U.S. Real Estate Index.

See the ProShares ETF Directory for a complete listing.

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