2nd Circuit Panel Affirms Dismissal In Securities Class Action Lawsuit

2nd Circuit Panel Affirms Dismissal In Securities Class Action Lawsuit

NEW YORK - A federal judge in New York did not err in dismissing a securities class action lawsuit filed by purchasers of 44 exchange-traded funds (ETFs) because the investors failed to plead a material misrepresentation, a Second Circuit U.S. Court of Appeals panel ruled July 22 (In re ProShares Trust Securities Litigation, No. 12-3981, 2nd Cir.; 2013 U.S. App. LEXIS 14764).

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