Company: EUO
Filing Date: 2025-03-28
Form Type: 424B3
Source: 0001193125-25-065647
Chunk: 368

Company: ProShares Trust II
Filing Date: 2025-03-28
Form: 424B3
Chunk 368
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8. In June 2017, one of the SEF plaintiffs filed a complaint raising allegations similar to those in the IRS litigation with respect to the trading of credit default swaps. Defendants have moved to dismiss that complaint and, in September 2018 and July 2019, certain defendants’ motions, including UBS AG’s, were granted. The SEF plaintiff filed an amended complaint in January 2020 and, in April 2020, the remaining defendants, including UBS Securities LLC, moved to dismiss the amended complaint. Following the filing of the first class complaint UBS was served with a subpoena from the U.S. Commodity Futures Trading Commission (“CFTC”) seeking documents and information regarding the UBS’s swap trading and Futures Commission Merchant businesses going back to 2008. Stock Lending matters. In 2017, a purported class action antitrust complaint was filed in the Southern District of New York against six stock lending prime broker defendants, including UBS, UBS Securities LLC and affiliates, as well as EquiLend, a trading platform and purveyor of post-trade services. The named plaintiffs purport to represent a class of all persons or entities that entered into stock loan transactions in the United States with one of the prime broker defendants from January 1, 2012, until February 22, 2021. The plaintiffs allege that the defendants conspired to block the evolution of the stock lending market from an OTC environment, in which stock loans are intermediated by prime brokers, to an electronic market, in which borrowers and lenders can transact directly with one another. Plaintiffs allege violations of Section 1 of the Sherman Act and New York State law and seek unspecified treble damages, fees and costs. In September 2018, the court overseeing the litigation denied defendants’ motions to dismiss. In January 2018, November 2018, and May 2019, various entities associated with defunct stock lending platforms, including QS Holdco, SL-x, and various SL-x affiliates, filed actions in the Southern District of New York raising claims similar to the class plaintiffs’ claims and also seeking treble damages and other relief. Defendants moved to dismiss these complaints. Defendants’ motion to dismiss the prior SL-x complaint applies to the new complaint as well. In August 2019, the court dismissed the QS Holdco complaint, and in

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January 2020, the court denied QS Holdco’s motion to alter or amend the judgment. In October 2021