November 9, 2012 - The court ordered the authorization of the distribution of the net settlement fund.
February 10, 2012 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.

September 13, 2011 - The court preliminarily approved the settlement.

July 28, 2011 - Parties filed a stipulation of settlement.

January 5, 2011 - The court granted in part and denied in part the defendants' motions to dismiss.

October 8, 2010 - The defendants filed motions to dismiss.

August 13, 2010 - The lead plaintiff filed an amended complaint.

June 29, 2010 - The lead plaintiff and lead counsel were appointed.

May 18, 2010 - A lead plaintiff motion was filed.

March 19, 2010 - An investor in shares of Rydex Inverse Government Long Bond Strategy Fund (MUTF: RYJAX) offered by Rydex Series Funds filed a lawsuit in the U.S. District Court for the Northern District of California against Rydex Sereis Funds over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between March 19, 2007 and March 19, 2010.

The plaintiff alleges that the Registration Statements and Prospectuses issued by the Rydex Inverse Government Long Bond Strategy Fund during the period from August 1, 2007 through July 31, 2009: (1) did not adequately disclose a mathematical compounding effect that virtually ensured the Rydex Inverse Government Long Bond Strategy Fund would deviate from its benchmark over time; and (2) did not disclose that because of this compounding effect, the Rydex Inverse Government Long Bond Strategy Fund was unsuitable for investors who intended to hold it for longer than one day. The Rydex Inverse Government Long Bond Strategy Fund was supposed to move inversely to the price of the 30-Year U.S. Treasury Bond (the “Long Treasury Bond”), increasing in value as the benchmark Long Treasury Bond price fell. The Registration Statements stated that the Rydex Inverse Government Long Bond Strategy Fund was appropriate for investors who anticipated that the price of the Long Treasury Bond would fall. According to the complaint, the Registration Statements failed to disclose that because of an inherent mathematical compounding effect, the Rydex Inverse Government Long Bond Strategy Fund would only in rare situations accurately track the inverse of the Long Treasury Bond for periods longer than a single day. This compounding effect could cause investors to lose money over time regardless of whether the price of the Long Treasury Bond fell.