Company: EUO
Filing Date: 2025-03-18
Form Type: S-3/A
Source: 0001193125-25-056731
Chunk: 335

Company: ProShares Trust II
Filing Date: 2025-03-18
Form: S-3/A
Chunk 335
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 December 20, 2016 the district court resolved the issue of antitrust standing, dismissing certain plaintiffs’ actions on efficient enforcer grounds, and limiting the classes of OTC and exchange-traded derivative instruments purchasers. The district court also dismissed antitrust claims against Citigroup and Citibank brought by several individual plaintiffs outside of New York on personal jurisdiction grounds. On July 6, 2016, in IN RE LIBOR-BASED FINANCIAL INSTRUMENTS ANTITRUST LITIGATION, Citibank and Citigroup along with the other defendants moved to dismiss all antitrust claims based on the efficient enforcer doctrine. The Schwab plaintiffs, whose claims were dismissed in their entirety in December 2016, filed a notice of appeal to the United States Court of Appeals for the Second Circuit on May 12, 2017. In May 2017, plaintiffs filed motions to certify proposed classes in over- the-counter (OTC) exchange-based, and lender class actions. On June 8, 2017, Judge Buchwald entered partial final judgment for the OTC plaintiffs, allowing them to appeal parts of the court’s December 20, 2016 decision to the Second Circuit. On February 23, 2018, the district court denied certification of two classes (investors who transacted in Eurodollar futures or options on exchanges and lending institutions with interests in loans tied to USD LIBOR) and certified the largest plaintiffs’ class (investors who purchased OTC derivatives from USD LIBOR panel banks) with respect to the antitrust claims against certain remaining defendants. On March 24, 2018, the parties filed petitions in the Second Circuit seeking review of the court’s class certification rulings. On February 23, 2018, the Second Circuit vacated the portion of the judgment entered by the district court on April 11, 2016 that dismissed non-antitrust claims of various Schwab entities on personal jurisdiction grounds and remanded the case to the district court. On July 19, 2018, the court granted preliminary approval of the settlement between a putative class of plaintiffs (lending institutions with interests in loans tied to USD LIBOR) and Citigroup and Citibank. On August 1, 2018, the court granted final approval of the settlement between the largest plaintiffs’ class (investors who purchased over-the-counter derivatives from USD LIBOR panel banks) and Citigroup and Citibank. On September 8, 201