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Jakubowitz Law IS HERE TO HELP SHAREHOLDERS WHO PURCHASED Proshares Ultra Bloomberg Crude Oil (UCO)

UCO is facing a class action lawsuit alleging that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) decreased demand for oil due to the coronavirus pandemic and increased oil supply and diminished oil prices caused by the Russia/Saudi oil price war had caused extraordinary market volatility; (2) a massive influx of investor capital into the Fund, totaling hundreds of millions of dollars, in a matter of days had increased Fund inefficiencies, heightened illiquidity in the West Texas Intermediate (“WTI”) futures contract markets in which the Fund invested, and caused the Fund to approach positional and regulatory limits (adverse trends exacerbated by the Offering itself); (3) there was a sharp divergence between spot and future prices in the WTI oil markets, leading to a super contango market dynamic as oil storage space in Cushing, Oklahoma dwindled and was insufficient to account for the excess supply expected to be delivered pursuant to the WTI May 2020 futures contract. As a result, UCO could not continue to pursue the passive investment strategy represented in the Registration Statement, causing its results to significantly deviate from its purported benchmark.

If you incurred a loss on UCO stocks purchased between March 6, 2020 and April 27, 2020, this lawsuit is on your behalf. The lawsuit was filed in the the United States District Court for the Southern District of New York, and our firm is reaching out to investors to discuss their legal rights.

If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.

You only have until September 28, 2020 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.

Fill out the form below to be contacted by a representative of Jakubowitz Law.

Loss Submission Form

See If you Qualify for Monetary Reward

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This submission does not create an attorney-client relationship.
If we believe that you might be an appropriate lead plaintiff, we will contact you to discuss
whether to establish an attorney-client relationship.