Judge Tosses Investor Class Action Over ProShares ETF Risks

Law360, Chicago (September 10, 2012, 8:59 PM EDT) -- A New York federal judge on Monday tossed out investors' consolidated putative class action over their alleged losses in ProShares Advisors LLC's exchange-traded funds, finding the related trusts that offered the funds were candid about certain risks attached to those leveraged investments.

U.S. District Judge John G. Koeltl granted the defendants' bid to dismiss the third amended complaint filed by investors who claimed they suffered substantial losses after holding on to their ETF investments for longer than one day and that ProShare-operated trusts failed to disclose...
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