Company: EUO
Filing Date: 2025-03-28
Form Type: 424B3
Source: 0001193125-25-065647
Chunk: 309

Company: ProShares Trust II
Filing Date: 2025-03-28
Form: 424B3
Chunk 309
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 Southern District of New York dismissed the actual fraudulent transfer claim against the shareholder defendants, including several Citigroup affiliates. On February 1, 2017, the Litigation Trustee requested leave to file an interlocutory appeal of the order dismissing the actual fraudulent transfer claim against the shareholder defendants. On February 23, 2017, Judge Sullivan entered an order stating that an interlocutory appeal will be certified after the remaining motions to dismiss are resolved. On April 4, 2019, the Litigation Trustee filed a motion for leave to amend the complaint to avoid and recover as constructive fraudulent transfers the transfers of Tribune stock that occurred as a part of the leveraged buyout. The motion was denied on April 23, 2019. In July 2019, the Litigation Trustee filed an appeal to the United States Court of Appeals for the Second Circuit. On August 20, 2021, the Second Circuit issued its decision, affirming the dismissal of the actual fraudulent conveyance claim and the denial of leave to amend the complaint to assert a constructive fraudulent transfer claim. On February 22, 2022, the Supreme Court declined to review the Second Circuit’s August 20, 2021 decision. CGMI was named as a defendant in a separate action in connection with its role as advisor to Tribune, KIRSCHNER V. CGMI. On January 23, 2019, the court dismissed the action. On February 21, 2019, the litigation trustee appealed to the United States Court of Appeals for the Second Circuit from the January 23, 2019 dismissal. The Second Circuit affirmed the dismissal of all claims against CGMI except for the claim of constructive fraudulent conveyance on August 20, 2021. As to that claim, the Second Circuit vacated the dismissal and remanded to the district court for further proceedings. On November 29, 2021, the Litigation Trustee notified the United States District Court for the Southern District of New York that it was voluntarily dismissing all claims against CGMI pursuant to a settlement agreement. The district court approved the voluntary dismissal on December 10, 2021. On February 22, 2022, the Supreme Court declined to review the Second Circuit’s August 20,

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2021 decision. Additional information concerning these actions is publicly available in court filings under the docket numbers 08-13141 (Bankr. D. Del.) (Carey, J.), 11 MD