Company: EUO
Filing Date: 2025-03-18
Form Type: S-3/A
Source: 0001193125-25-056733
Chunk: 216

Company: ProShares Trust II
Filing Date: 2025-03-18
Form: S-3/A
Chunk 216
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onia and Hawaii Sheet Metal Workers plaintiffs from the appeal. Oral argument in the appeal was heard on November 29, 2021. A decision is pending. This action is not part of the U.S. Dollar LIBOR MDL. In August 2020, plaintiffs filed a non-class action in the U.S. District Court for the Northern District of California against several financial institutions, including DBAG and the Corporation, alleging that U.S. Dollar LIBOR has been suppressed through the present. On November 10, 2020, plaintiffs filed a motion for a preliminary and permanent injunction. On November 11, 2020, certain defendants, including DBAG and the Corporation, moved to transfer the action to the Southern District of New York. On May 24, 2021, plaintiffs filed a motion for an order to show cause why the Court should not order plaintiffs’ previously requested injunction prohibiting the enforcement of LIBOR. Defendants, including DBAG and the Corporation, moved to strike the motion. On June 3, 2021, the court issued an order (i) denying defendants’ motion to transfer the action from California to New York, (ii) denying defendants’ motion to strike as invalid plaintiffs’ May 24 motion and (iii) setting a hearing for the injunction motions for September 9, 2021. On September 9, 2021, the court held a hearing on the injunction motions and tentatively denied the motions. On December 23, 2021, the court issued a written decision denying the injunction motions. On September 30, 2021, defendants, including DBAG and the Corporation, moved to dismiss the complaint; briefing on the motion is complete. This action is not part of the U.S. Dollar LIBOR MDL. DBAG has previously entered into settlements with U.S. and foreign government entities to resolve investigations into misconduct concerning the setting of certain interbank offered rates. The Corporation is not a named party to these settlements; however, the settlements may have an impact on the Corporation’s ability to defend against associated litigations. Interest Rate Swaps (IR Swaps) Market On October 5, 2016, the CFTC issued a subpoena to DBAG and its affiliates, including the Corporation, seeking documents and information concerning the trading and clearing of IR Swaps. DBAG has cooperated fully in response to the subpoena and requests for information. DBAG and the Corporation are defendants, along with numerous other IR Swaps dealer banks, in