Direxion Energy Bear 3X Shares Fund ERY Securities Stock Fraud

Company:	Direxion Energy Bear 3X Shares Fund
Ticker Symbol:	ERY
Class Period:	Nov-5-08 to Apr-9-09
Date Filed:	Feb-17-10
Lead Plaintiff Deadline:	Apr-18-10
Court:	Southern District of New York
Allegations:

A class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all investors who purchased or otherwise acquired shares in the Direxion Energy Bear 3X Shares Fund ("the ERY Fund") offered by Direxion Shares ETF Trust ("Direxion Shares"), pursuant or traceable to Direxion Shares' false and/or misleading Registration Statement, Prospectuses, and Statements of Additional Information (collectively, the "Registration Statement"). The Class is seeking recovery for investors under Sections 11 and 15 of the Securities Act of 1933 (the "Securities Act"). Investors only have until Monday, March 15, 2010 to move for appointment as a lead plaintiff in this case.

The class action lawsuit was filed on behalf of investors in the Direxion ERY Fund who suffered investment losses. The complaint alleges the Defendants violated the Securities Act by failing to disclose that the ERY Fund is altogether defective as a directional investment play. The ERY Fund seeks investment results that correspond to three times the inverse (-300%) daily performance of the Russell 1000 Energy Index ("Russell Energy Index"), which fell approximately 11% from November 5, 2008 through April 9, 2009, ostensibly creating a profit to investors who anticipated a decline in the U.S. energy market. However, the Energy Bear Fund actually fell approximately 54% during this period.

If you purchased or otherwise acquired shares in the ERY Fund during the period November 5, 2008 through April 9, 2009 (the "Class Period") and either lost in excess of $200,000, or still hold the shares, you may wish to join in the action to serve as Lead Plaintiff. In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers no later than March 15, 2010.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Direxion Energy Bear 3X Shares Fund ERY Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Direxion Energy Bear 3X Shares Fund securities class action lawsuit. Please fill in our form on the right to submit your complaint for a free evaluation.