Company: EUO
Filing Date: 2025-02-13
Form Type: S-3
Source: 0001193125-25-026201
Chunk: 206

Company: ProShares Trust II
Filing Date: 2025-02-13
Form: S-3
Chunk 206
---
 argument is scheduled for September 19, 2024. On March 4, 2024, the parties filed a joint status report in the New Mexico court discussing whether and to what extent they believe discovery may proceed; on May 6, 2024, the New Mexico court issued an order keeping the discovery stay in place pending the Second Circuit appeal. CFTC Confidentiality Agreement Investigation On March 8, 2024, DBSI received a voluntary request for documents from the U.S. Commodity Futures Trading Commission (CFTC) in connection with an investigation concerning confidentiality provisions and whether those provisions include explicit language permitting the initiation of communications with regulators in accordance with the CFTC whistleblower protection rules. The Bank is continuing to cooperate with the CFTC’s investigation. Corporate Securities Matters The Corporation regularly acts in the capacity of underwriter and sales agent for debt and equity securities of corporate issuers and is from time to time named as a defendant in litigation commenced by investors relating to those securities. The Corporation, along with numerous other financial institutions, was a defendant in a consolidated putative class action lawsuit pending in the United States District Court for the District of New Jersey. The 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 Valeant Pharmaceuticals International, Inc.’s (Valeant) issuance of senior notes in January 2015 and March 2015 (the Note Offerings), as well as Valeant’s secondary offering of common stock in March 2015 (the Stock Offering). The Corporation acted as one of several initial purchasers of the Note Offerings and as one of several underwriters of the Stock Offering. On December 15, 2019, plaintiffs entered into a class settlement with all defendants (except for PricewaterhouseCoopers LLP), including the Corporation. The class settlement by its terms, extinguishes all claims against the settling defendants for a settlement amount of $1.2 billion (to be paid fully by Valeant, without contribution from the Corporation or any underwriters). The Special Master presiding over this matter preliminarily approved the class settlement on January 23, 2020, and held a fairness hearing on May 27, 2020. On June 15, 2020, the Special Master issued a report in which he recommended the district court approve the settlement as fair. On January 31, 2021, the district