Company: EUO
Filing Date: 2025-03-28
Form Type: 424B3
Source: 0001193125-25-065648
Chunk: 210

Company: ProShares Trust II
Filing Date: 2025-03-28
Form: 424B3
Chunk 210
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’s reports and recommendations. The District Court’s opinions did not address objections filed by the Underwriter Defendants, and so, on January 5, 2024, the Underwriter Defendants filed a letter asking the Court to review and consider those objections. On February 22, 2024, the District Court issued an opinion denying the Underwriter Defendants’ objections and adopting the Special Master’s report and recommendation regarding the Underwriter Defendants’ motion for summary judgment. In connection with its role as an initial purchaser in the Note Offerings and an underwriter in the Stock Offering, the Corporation received a customary indemnification agreement from Valeant as issuer. On March 7, 2022, plaintiff filed a class action complaint against Rivian Automotive, Inc. (Rivian), several current and former Rivian executives (Rivian Executives), the Corporation, and other financial institutions related to Rivian’s November 2021 initial public offering (IPO). On July 22, 2022, the appointed lead plaintiff filed a consolidated class action complaint. The consolidated complaint asserted claims against the Corporation under Sections 11 and 12 of the Securities Act of 1933, as amended, for alleged misstatements and omissions in the offering documents attendant to Rivian’s IPO. The Corporation acted as one of several underwriters of the IPO. On August 29, 2022, both the Corporation and the other financial institution underwriters (Underwriter Defendants) and Rivian and the Rivian Executives (Rivian Defendants) filed two motions to dismiss, which were granted without prejudice on February 16, 2023. On March 2, 2023, plaintiff filed an amended consolidated class action complaint against the Underwriter Defendants and Rivian Defendants. On March 16, 2023, the Underwriter Defendants and Rivian Defendants filed two motions to dismiss, which were denied on July 3, 2023. Plaintiff filed a motion for class certification on December 1, 2023, which the court granted on July 17, 2024. Discovery in the action is ongoing in connection with its role as an underwriter in the IPO, the Corporation received a customary indemnification agreement from Rivian. Employment Litigation The Corporation has been named as respondent in a FINRA arbitration brought by two former Client Advisors in the Private Client Group for fraud in the inducement and violations of FINRA Rule 2010 in connection with the sale of the Private Client Group to Raymond James Financial, Inc