Stull, Stull & Brody Files Class Action Lawsuit on Behalf of Investors in ProShares UltraShort S&P500 Fund

http://www.businesswire.com/news/home/20091109006729/en

NEW YORK--(Business Wire)--
The law firm of Stull, Stull & Brody announces that it has filed on November 9,
2009 a class action complaint in the U.S. District Court for the Southern
District of New York on behalf of all persons who purchased or otherwise
acquired shares in the ProShares UltraShort S&P500 Fund (the "SDS Fund") (NYSE:
SDS), 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 SDS Fund (the
"Class"). The Class is seeking to pursue remedies under Sections 11 and 15 of
the Securities Act of 1933 (the "Securities Act").

In addition to the claims concerning ProShares SDS Fund, Stull, Stull & Brody is
also investigating claims on behalf of investors in other ProShares leveraged
funds (the "Funds") (see list below), such as whether ProShares failed to
disclose in its registration statements: (i) that if shares of the Funds were
held for a time period longer than one day, the likelihood of massive losses was
huge; and (ii) the extent to which performance of the Funds would invariably
diverge from the performance of the benchmark.

Fund Ticker Symbol
UltraShort QQQ (NYSE: QID)
UltraShort Dow30 (NYSE: DXD)
UltraShort Russell3000 (NYSE: TWQ)
UltraShort MidCap400 (NYSE: MZZ)
UltraShort SmallCap600 (NYSE: SDD)
UltraShort Russell2000 (NYSE: TWM)
UltraPro Short S&P500 (NYSE: SPXU)
UltraShort Russell1000 Value (NYSE: SJF)
UltraShort Russell1000 Growth (NYSE: SFK)
UltraShort Russell MidCap Value (NYSE: SJL)
UltraShort Russell MidCap Growth (NYSE: SDK)
UltraShort Russell2000 Value (NYSE: SJH)
UltraShort Russell2000 Growth (NYSE: SKK)
UltraShort Basic Materials (NYSE: SMN)
UltraShort Consumer Goods (NYSE: SZK)
UltraShort Consumer Services (NYSE: SCC)
UltraShort Health Care (NYSE: RXD)
UltraShort Industrials (NYSE: SIJ)
UltraShort Oil & Gas (NYSE: DUG)
UltraShort Semiconductors (NYSE: SSG)
UltraShort Technology (NYSE: REW)
UltraShort Telecommunications (NYSE: TLL)
UltraShort Utilities (NYSE: SDP)
UltraShort MSCI EAFE (NYSE: EFU)
UltraShort MSCI Emerging Markets (NYSE: EEV)
UltraShort MSCI Europe (NYSE: EPV)
UltraShort MSCI Pacific ex-Japan (NYSE: JPX)
UltraShort MSCI Brazil (NYSE: BZQ)
UltraShort FTSE/Xinhua China 25 (NYSE: FXP)
UltraShort MSCI Japan (NYSE: EWV)
UltraShort MSCI Mexico Investable Market (NYSE: SMK)
UltraShort 7-10 Year Treasury (NYSE: PST)
UltraShort 20+ Year Treasury (NYSE: TBT)
UltraShort DJ-UBS Commodity (NYSE: CMD)
UltraShort DJ-UBS Crude Oil (NYSE: SCO)
UltraShort Gold (NYSE: GLL)
UltraShort Silver (NYSE: ZSL)
UltraShort Euro (NYSE: EUO)
UltraShort Yen (NYSE: YCS)
Ultra QQQ (NYSE: QLD)
Ultra Dow30 (NYSE: DDM)
Ultra S&P500 (NYSE: SSO)
Ultra Russell3000 (NYSE: UWC)
Ultra MidCap400 (NYSE: MVV)
Ultra SmallCap600 (NYSE: SAA)
Ultra Russell2000 (NYSE: UWM)
UltraPro S&P500 (NYSE: UPRO)
Ultra Russell1000 Value (NYSE: UVG)
Ultra Russell1000 Growth (NYSE: UKF)
Ultra Russell MidCap Value (NYSE: UVU)
Ultra Russell MidCap Growth (NYSE: UKW)
Ultra Russell2000 Value (NYSE: UVT)
Ultra Russell2000 Growth (NYSE: UKK)
Ultra Basic Materials (NYSE: UYM)
Ultra Consumer Goods (NYSE: UGE)
Ultra Consumer Services (NYSE: UCC)
Ultra Health Care (NYSE: RXL)
Ultra Industrials (NYSE: UXI)
Ultra Real Estate (NYSE: URE)
Ultra Semiconductors (NYSE: USD)
Ultra Technology (NYSE: ROM)
Ultra Telecommunications (NYSE: LTL)
Ultra Utilities (NYSE: UPW)
Ultra DJ-UBS Commodity (NYSE: UCD)
Ultra DJ-UBS Crude Oil (NYSE: UCO)
Ultra Gold (NYSE: UGL)
Ultra Silver (NYSE: AGQ)
Ultra Euro (NYSE: ULE)
Ultra Yen (NYSE: YCL)
Ultra MSCI EAFE (NYSE: EFO)
Ultra MSCI Emerging Markets (NYSE: EET)
Ultra FTSE/Xinhua China 25 (NYSE: XPP)
Ultra MSCI Japan (NYSE: EZJ)

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
marketed by ProShares, Ultra ETFs are designed to go up when markets go up;
UltraShort ETFs are designed to go up when markets go down. The SDS Fund is one
of ProShares` UltraShort ETFs. The SDS Fund seeks investment results that
correspond twice (200%) the inverse (opposite) of the daily performance of the
S&P 500 Index. Accordingly, the SDS Fund is supposed to deliver double the
inverse of the return of the S&P 500 Index, which increased approximately six
percent from January 1, 2009 through July 30, 2009. In other words, the SDS Fund
should have declined by twelve percent during this period. However, the SDS Fund
fell approximately 29 percent during this period.

The complaint alleges the Defendants violated the Securities Act by failing to
disclose the following risks, inter alia, in the Registration Statement: (1) if
SDS Fund shares were held for a time period longer than one day, the likelihood
of catastrophic losses was huge; and (2) the extent to which performance of the
SDS Fund would inevitably diverge from the performance of the S&P 500 Index --
i.e., the overwhelming probability, if not certainty, of spectacular divergence.

If you purchased or otherwise acquired ProShares SDS shares, and either lost
money on the transaction or still hold the shares, you may apply to the Court to
serve as lead plaintiff in the action. A "lead plaintiff" is a representative
party that acts on behalf of other class members in directing the litigation. In
order to be appointed lead plaintiff, the Court must determine that the class
member`s claim is typical of the claims of other class members, and that the
class member will adequately represent the class. Under certain circumstances,
one or more class members may together serve as lead plaintiff. Your ability to
share in any recovery is not, however, affected by the decision whether or not
to serve as a lead plaintiff. You may retain Stull, Stull & Brody, or other
counsel of your choice, to serve as your counsel in this action. Stull, Stull &
Brody has litigated many class actions for violations of securities laws in
federal courts over the past 40 years and has obtained court approval of
substantial settlements on numerous occasions. Stull, Stull & Brody maintains
offices in New York and Los Angeles.

If you wish to discuss this action or the investigation regarding any of the
Funds listed above, or if you have any questions concerning this notice or your
rights or interests with respect to these matters, please contact Aaron Brody,
Esq. at Stull, Stull & Brody by e-mail at ssbny@aol.com, or by calling toll-free
1-800-337-4983, or by fax to 1-212-490-2022, or by writing to Stull, Stull &
Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at
www.ssbny.com.

Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.

Stull, Stull & Brody
Aaron Brody, Esq.
1-800-337-4983 or 212-687-7230
ssbny@aol.com

Copyright Business Wire 2009