Company: EUO
Filing Date: 2025-03-18
Form Type: S-3/A
Source: 0001193125-25-056731
Chunk: 214

Company: ProShares Trust II
Filing Date: 2025-03-18
Form: S-3/A
Chunk 214
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 DBAG agreed to pay approximately $8 million, of which approximately $6 million would be credited by virtue of the aforementioned CFTC resolution. DBAG and various affiliates are defendants in two consolidated class action lawsuits pending in the U.S. District Court for the Southern District of New York. The suits allege violations of U.S. antitrust law, the U.S. Commodity Exchange Act and related state law arising out of the alleged manipulation of gold and silver prices. The Gold action named DBAG as a defendant; the Silver action named DBAG, the Corporation, DBNY, Deutsche Bank Trust Corporation, Deutsche Bank Trust Company Americas (DBTCA), Deutsche Bank Americas Holding Corp. (DBAH), and Deutsche Bank US Financial Markets Holding Corporation as defendants. The defendants reached agreements to settle the Gold action for $60 million and the Silver action for $38 million. The court granted final approval to the settlement in the Silver action on June 15, 2021 and has scheduled a fairness hearing on the settlement in the gold action for August 5, 2022.

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Other legal matters pertaining to precious metals trading and related conduct on the part of DBAG and its affiliates were previously resolved. Raymond James Claims The Corporation was notified of a threatened claim by Raymond James. In September 2016, the Corporation and Raymond James entered a suite of linkage agreements to facilitate Raymond James’s acquisition of a portion of the (PCS) unit of Deutsche Asset & Wealth Management. Raymond James claimed that the Corporation breached several of those linkage agreements by failing to provide promised services or fees, and threatened legal action if the parties cannot resolve the dispute. On September 13, 2021, Raymond James and two client advisors filed a FINRA arbitration against the Corporation and DBAG based on the threatened claims. An evidentiary hearing took place on February 27 to March 20, 2023. On April 18, 2023, the FINRA panel awarded Raymond James $16 million. Recordkeeping Investigation On September 23, 2021, Deutsche Bank Securities Inc. (DBSI) received a subpoena from the U.S. Securities and Exchange Commission (SEC) as part of what DBSI understands to be a proactive and industry-wide investigation regarding compliance with record retention requirements in connection with broker-dealer business communications sent or received on employee personal devices via electronic messaging channels. On May 6, 2022, the U.S. Commodity Futures Trading Commission (CFTC) issued a similar subpoena to Deutsche Bank AG (