United States Second Circuit
In Re ProShares Trust Securities Litigation, 12-3981
Judgment dismissing plaintiffs' complaint which alleged that defendants were liable for alleged omissions and misleading statements related to defendants' exchange-traded funds (ETFs) pursuant to sections 11 and 15 of the Securities Act of 1933, is affirmed, where the district court did not err in concluding that the alleged omissions were immaterial as a matter of law because the prospectuses warned of the risks that materialized, and no reasonable investor who read them would have been misled about the risks of leveraged-ETF investments.
Appellate Information
- Decided 07/22/2013
- Published 07/22/2013
Judges
- WESLEY
Court
- United States Second Circuit