SOURCE: Levi & Korsinsky, LLP
NEW YORK, NY--(Marketwire - Jul 17, 2012) - Levi & Korsinsky announces that a class action lawsuit has been commenced in the US District Court Southern District of New York on behalf of investors who purchased VelocityShares Daily 2x VIX Short Term Exchange Traded Notes linked to the S&P 500 VIX Short-Term Future Index ("TVIX") (NYSE Arca: TVIX) between November 30, 2010 and March 22, 2012 (the "Class Period").
For more information, click: http://zlk.9nl.com/tvix-exchange-traded-notes-tvix. There is no cost or obligation to you.
The complaint alleges, among other things, that Credit Suisse AG understated the risks associated with exchange traded notes such as TVIX, and that its offering documents failed to fully inform investors of the losses that could occur if Credit Suisse reached the limit of such notes it could offer and stopped issuing them.
On February 21, 2012, the price of TVIX increased and became scarcer after Credit Suisse announced it had "temporarily suspended further issuances of the [VIX ETNs] due to internal limits on the size of VIX ETNs." When this suspension was rescinded on March of 2012, the price of TVIX fell. Then, on March 29, 2012, it was disclosed that FINRA was investigating the trading in TVIX and other exchange traded notes, and that the Massachusetts securities regulator was looking into the VIX ETNs' February and March 2012 transactions.
If you suffered a loss in TVIX you have until July 24, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/tvix-exchange-traded-notes-tvix.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.