Did You Invest in ProShares

UltraShort DUG Funds?

Are Your Losses or Holdings in

Excess of $200,000.00?

For a Limited Time You have a

Right to Recover Your

Investment Loss.

Deadline for plaintiff submissions:

November 23, 2009

ProShares UltraShort DUG Lawsuit

Gilman and Pastor, LLP filed a class action lawsuit on October 23, 2009 in the United States District Court for the

Southern District of New York, on behalf of all persons who purchased or otherwise acquired shares in the UltraShort

Oil and Gas fund (the “DUG Fund”), an exchange-traded fund (“ETF”) offered by ProShares Trust (“ProShares”),

pursuant or traceable to ProShares’ false and misleading Registration Statement, Prospectuses, and Statements of

Additional Information (collectively, the “Registration Statement”) issued in connection with shares of the DUG Fund

(the “Class”).  The Class is seeking to pursue remedies under Sections 11 and 15 of the Securities Act of 1933 (the

“Securities Act”).ex elit sed dolor aute lorem consequat.

The complaint names ProShares, ProShare Advisors LLC, SEI Investments Distribution Co., Michael L. Sapir, Louis

M. Mayberg, Russell S. Reynolds, III, Michael Wachs, and Simon D. Collier, as defendants (collectively,

“Defendants”). ProShares sells its Ultra and UltraShort ETFs as “simple” directional plays. As alleged, the products

are defective and do not perform in accordance with reasonable investor expectations.

Boston, Massachusetts

 

Gilman and Pastor, LLP

63 Atlantic Avenue, 3rd

Floor

Boston, MA 02110

P: (877) 428-7374

F: (508) 291-3258

Wareham, Massachusetts

 

Gilman and Pastor, LLP

16 Fourteenth Avenue

Wareham, MA 02571

P: (508) 291-8400

F: (508) 291-3258

Bonita Springs, Florida

Gilman and Pastor, LLP

28100 Bonita Grande Drive,

Suite 105

Bonita Springs, FL 34135

P: (239) 221-8269

F: (239) 221-8274

The DUG Fund is one of ProShares’ UltraShort ETFs. The

DUG Fund seeks investment results that correspond to twice

the inverse (–200%) daily performance of the Dow Jones

U.S. Oil and Gas Index (“DJOGI”).  Accordingly, the DUG

Fund is supposed to deliver double the inverse return of the

DJOGI, which fell approximately 37 percent from January 2,

2008 through December 31, 2008, ostensibly creating a

profit for investors who anticipated a decline in the U.S. Oil

and Gas market.  In other words, the DUG Fund should have

appreciated by over 74 percent during this period.  However,

the DUG Fund fell approximately 30 percent during this

period.

Plaintiff investors allege ProShares violated the Securities

Act by failing to disclose risks to ordinary and conservative

investors, including:

  • If DUG Fund shares were held for a time period

     longer than one day, the likelihood of

     catastrophic losses was huge

  • The extent to which performance of the DUG

     Fund would inevitably diverge from the

     performance of the DJOGI—i.e., the

     overwhelming probability, if not certainty, of

     spectacular divergence.

Plaintiff in the DUG Action seeks to recover damages on

behalf of all Class members who purchased or otherwise

acquired shares of ProShares DUG.  If you purchased or

otherwise acquired ProShares DUG shares, and either lost

money on the transaction or still hold the shares, you may

wish to join in the action to serve as lead plaintiff.  In order to

do so, you must meet certain requirements set forth in the

applicable law and file appropriate papers no later than

November 23, 2009.

You are entitled to recover for losses in ProShares

UltraShort DUG Oil and Gas Fund for a Limited Time

On behalf of ProShares DUG investors, we are seeking to recover damages on behalf of all Class

members who purchased or otherwise acquired shares of ProShares DUG.

Why Gilman and Pastor, LLP?

Gilman and Pastor is a national litigation firm specializing in securities litigation, consumer class

actions and complex business litigation. For 30 years our attorneys have recovered more than a

billion dollars on behalf of our clients.

Gilman and Pastor’s managing partner, Kenneth G. Gilman has extensive experience over the last

25 years in recovering funds related to fraudulent Ponzi schemes.  In 1985, Mr. Gilman was

appointed by the United States District Court for the Southern District of Florida, as the Equity

Receiver, to marshall and recover funds arising out of the massive Ponzi scheme known as the

Intercontinental Commodity Pool Fraud. Mr. Gilman pursued and recovered assets for investors

from all responsible parties, including the firm’s auditors. He also worked with the Department of

Justice, international authorities in Switzerland and the Cayman Islands to penetrate bank

secrecy laws and locate funds to which the investors were entitled.  He also worked with the U.S.

Prosecutors to make certain that those who perpetrated the securities fraud were sentenced to

jail for their crimes.

From 1982 through 1985, Mr. Gilman also represented the Receiver in the massive nationwide

Lloyd Carr Ponzi scheme. As part of that representation, he pursued responsible third parties as

special counsel for the Department of Justice in Massachusetts Federal Court and in litigation

nationwide.

Our firm is committed to representing investors who have been defrauded by ProShares

and all other responsible parties, including but limited to: any brokerage firms or

financial advisors who recommended the ProShares investment. Please fill out the form

for our investigation.

Privacy Policy: Gilman and Pastor maintains the strict and confidential privacy of your message. We do not transfer

your personal information, including your email address, to any third party. Information entered in the form will be

used solely for informational purposes to assist in your case investigation.