Market Overview

The Law Firm of Shepherd Smith Edwards & Kantas LLP Continues to Investigate Claims Involving Sales of ProShares and Other Exchange Traded Funds (ETFs)

Share:

BETHESDA, Md., Sept. 14, 2010 (GLOBE NEWSWIRE) -- The Law Firm of Shepherd Smith Edwards & Kantas LLP (www.sseklaw.com) continues to investigate claims for investors who were improperly sold investments known as Exchange Traded Funds (ETFs), including ProShares.  ETFs, especially ones that are leveraged, can subject investors to substantially more risk than a normal mutual fund, and can result in enormous losses for the consumer. Often the complexities and risks of the leverage are not properly disclosed by the salesperson. Leveraged ETFs that have suffered losses in the past include, but are not limited, to the following ProShares Funds:

  • ProShares UltraShort Russell MValue ETF (SJL)o ProShares UltraShort Russell 2000 (SKK)
  • ProShares UltraShort Real Estate ETF (SRS)
  • ProShares Ultra Financials ETF (UYG)
  • ProShares UltraShort Dow 30 ETF (DXD)
  • ProShares UltraShort Financials ETF (SKF)
  • ProShares UltraShort FTSE/Xinhua 25 ETF (FXP)
  • ProShares UltraShort Gold ETF (GLL)
  • ProShares UltraShort DJ-AIG Crude Oil ETF (SCO)
  • ProShares UltraShort Oil & Gas ETF (DUG)
  • ProShares UltraShort MSCI Emerging Markets

The self-regulatory organization charged with overseeing brokerage firms and financial advisors, the Financial Industry Regulatory Authority ("FINRA"), has warned about the risks of leveraged ETFs in a Notice to Members.  Many large broker-dealers have banned the sale of leveraged ETFs.  Unfortunately, many brokers have already recommended sales of ETFs without fully understanding the product. Furthermore, many have made overly aggressive trading recommendations which resulted in substantial losses to the consumer. If you lost money in ProShares or other ETFs as a result of your broker's recommendation of these products, contact the law offices of Shepherd Smith Edwards & Kantas LLP with any information or questions.

Shepherd Smith Edwards & Kantas LLP has a team of attorneys, consultants and others with more than 100 years of combined experience in the securities industry and in securities law. Since 1990, we have represented thousands of investors nationwide to recover losses.  We have represented clients in Federal and state courts and in arbitration through the Financial Industry Regulatory Authority (FINRA), the New York Stock Exchange Inc. (NYSE), the American Arbitration Association (AAA) and in private arbitration actions. Collectively, we have represented clients in more than 1,000 matters in negotiation, mediation, arbitration and litigation. 

CONTACT: Shepherd Smith Edwards & Kantas Kirk G. Smith: 800-259-9010 ksmith@sseklaw.com
View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com