In Re ProShares Trust Sec. Litig.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• noting that the defendants disclosed that certain fees were “for illustration purposes only” and “not meant to suggest actual ... fees or returns”
• noting that, “[w]hen a registration statement warns of the exact risk that later materialized, a [s]ection 11 claim will not lie as a matter of law” (alterations in original) (internal quotation marks and citation omitted)
• finding unpersuasive plaintiffs’ “efforts to find a meaningful distinction between ‘diverge significantly’ and ‘actual loss’”
• rejecting linguistic argument that a registration statement’s use of the phrase “diverge significantly” to describe the relationship between a security’s long-term value and that of its underlying index failed to encompass the possibility of actual losses, based on (1
• dismissal is appropriate \where the alleged omission was so obviously unimportant to a reasonable investor that reasonable minds would agree on that omission's unimportance.\
• “[W]hen a registration statement warns of the exact risk that later materialized, a [s]ection 11 claim will not lie as a matter of law.”

Source: CourtListener parenthetical corpus (CC0).