ProShares Says Investors Knew ETF Risks

Law360, New York (March 18, 2011, 3:22 PM EDT) -- A shareholder class action over alleged losses in ProShares Advisors LLC's exchange-traded funds should be thrown out because there weren't any misstatements or omissions, the company argued Thursday in New York.

While the investors insisted that the funds didn't meet cumulative goals on returns, ProShares contends that the only goals it ever stated were daily, according to a motion to dismiss the consolidated class action and accompanying documents filed by Robert A. Skinner of Ropes & Gray LLP in the U.S. District Court for the Southern...
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