|02-11-2019 05:38 PM CET - Business, Economy, Finances, Banking & Insurance||
Lawsuit filed for Investors in shares of VelocityShares Daily Inverse VIX MT ETN (NASDAQ: ZIV)
Press release from: Shareholders Foundation
The Shareholders Foundation announces that an investor, who purchased shares of VelocityShares Daily Inverse VIX MT ETN (NASDAQ: ZIV), filed a lawsuit over alleged violations of Federal Securities Laws by Credit Suisse Group AG.
Investors ho purchased shares of VelocityShares Daily Inverse VIX MT ETN (NASDAQ: ZIV) have certain options and for certain investors are short and strict deadlines running. Deadline: April 5, 2019. NASDAQ: ZIV investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges on behalf of purchasers of VelocityShares Daily Inverse VIX Medium Term Exchange Traded Notes (NASDAQ: ZIV) common shares between June 30, 2017 and February 5, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between June 30, 2017 and February 5, 2018, defendants made materially false or misleading statements relating to the risks of investing in VelocityShares Daily Inverse VIX Medium Term Exchange Traded Notes (NASDAQ: ZIV) including that, the inverse ETNs was not appropriate for managing daily trading risks, that Credit Suisse had designed the ZIV to fail under certain market conditions, that Credit Suisse had offered and sold more inverse ETNs than the market could bear which would enable Credit Suisse to cause the collapse of the inverse ETNs when the opportunity presented itself, and that Credit Suisse could actively manipulate inverse ETNs by precipitating an acute liquidity event in volatility markets including markets for VIX futures.
The price of VelocityShares Daily Inverse VIX Medium Term Exchange Traded Notes (NASDAQ: ZIV) dropped from $85.41 to $68.50 on abnormally high trading volume between February 2, 2018 and February 6, 2018.
Those who purchased shares of VelocityShares Daily Inverse VIX MT ETN (NASDAQ: ZIV) have certain options and should contact the Shareholders Foundation.
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Shareholders Foundation, Inc.
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This release was published on openPR.
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