Stull, Stull & Brody
is continuing its legal attack on ProShares
with a class action suit over disclosure violations regarding the UltaShort Dow30 Fund
, the New York law firm just
A spokesperson for ProShares declined to comment.
The UltraShort Dow30 ETF aims to return double the inverse return of the Dow Jones Industrial Average.
According to the release, "If DXD Fund shares were held for a time period longer than one day, the likelihood of catastrophic losses was a near certainty."
Stull, Stull & Brody led a similar charge against ProShares for its Ultra Financials Fund
and UltraShort Oil and Gas Fund
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