COVID-19 (Coronavirus) MARKET Losses: Sue your Financial Advisor/Firm now for your losses!! Video conferencing and remote meetings are readily available

Blum & Silver Representing Investors in ProShares and other Exchange Traded Funds (ETFs)

Blum Law Group is representing investors who were recommended and sold ProShares Funds and other ETFs by their brokers. These funds have subjected investors to substantially more risk than was disclosed and resulted in enormous losses by investors. These leveraged ETFs include but are not limited to the following ProShares Funds in which investors have suffered substantial losses:

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

The Financial Industry Regulatory Authority (“FINRA”), the self-regulatory organization charged with overseeing broker-dealers and brokers, has warned about the risks of leveraged ETF’s in a Notice to Members stating that they are “unsuitable for retail investors who plan to hold them for longer than one trading session, particularly in volatile markets.” In fact, many large broker-dealers have banned these highly complex and risky products and others have tightened their internal policies. Paul Justice, an ETF specialist with Morningstar, stated more than 18 months ago that “[w]ith virtually every leveraged and inverse [ETF] fund, I can tell you that they are appropriate only for less than 1% of the investing community.” Unfortunately, many brokers purchase these complex investments for their clients and have difficulty understanding the products and do not trade them in the manner in which they were intended. Leveraged ETFs seek investment results for a single day only and are intend to be monitored extremely actively.

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 Blum Law Group with any information or questions.

Contact Information