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Direxion Shares ETF Trust (NYSE: FAZ) Investor Securities Class Action Lawsuit 09/18/2009

  • If you purchased shares of Direxion Financial Bear 3X Shares (NYSE: FAZ), Direxion Energy Bear 3X Shares (NYSE: ERY), Direxion Large Cap Bear 3X Shares (NSYE: BGZ), Direxion Small Cap Bear 3X Shares (NYSE: TZA), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Direxion Shares ETF Trust
Security
NYSE: BGZ
NYSE: ERY
NYSE: FAZ
NYSE: TZA

Case Name
Direxion Shareholder Class Action Lawsuit 09/18/2009
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
Settlement Notice
direxion_shares_etf_trust_settlement_notice_2_2013.pdf
Settlement Proof
direxion_shares_etf_trust_settlement_proof_2_2013.pdf
Filed Complaint
direxion_shares_etf_trust_original_filing_edited_9_2009.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$8,000,000.00
Deadline to Participate in Settlement

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Summary

February 10, 2014 - The court ordered the authorization of the distribution of the net settlement fund.
May 10, 2013 - The court held a final settlement hearing, approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.

February 5, 2013 - The court preliminarily approved the settlement on behalf of all investors who purchased or otherwise acquired the following Direxion shares; Direxion Financial Bear 3X Shares (NYSE: FAZ), Direxion Energy Bear 3X Shares (NYSE: ERY), Direxion Large Cap Bear 3X Shares (NSYE: BGZ), Direxion Small Cap Bear 3X Shares (NYSE: TZA).

January 31, 2013 - Parties filed a stipulation of settlement.

March 6, 2012 - The court denied the defendants' motion to dismiss.

February 24, 2012 - The defendants filed a motion to dismiss.

February 10, 2012 - A third amended consolidated complaint was filed.

June 10, 2011 - The defendants filed a motion to dismiss.

April 8, 2011 - A second amended consolidated complaint was filed.

November 23, 2010 - An amended consolidated complaint was filed.

September 17, 2009 - An investor in shares of Financial Bear 3X Shares Fund (NYSE: FAZ), an exchange-traded fund ( ETF or Fund ) offered by Direxion Shares ETF Trust, filed a lawsuit in the U.S. District Court for the Southern District of New York against Direxion Shares ETF Trust over alleged violations of Federal Securities Laws between November 3, 2008 and April 9, 2009.

direxion_shares_etf_trust_original_filing_edited_9_2009.pdf
Date Settled