In re Proshares Trust Securities Litigation

OPINION AND ORDER

JOHN G. KOELTL, District Judge.

This is a putative class action brought by a group of investors (collectively, the “plaintiffs”) in forty-four exchange-traded funds (“ETFs”) offered by ProShares. The funds have daily investment objectives tied to an underlying benchmark index. The plaintiffs assert securities fraud claims pursuant to Sections 11 and 15 of the Securities Act of 1933, 15 U.S.C. §§ 77k & 77o. Two plaintiffs also assert a breach of contract claim under New York law. The *648defendants — ProShares Trust, ProShares Trust II, ProShares Advisors LLC, SEI Investments…