NAPLES, FL--(Marketwire -05/31/12)- The Leading Securities Fraud Attorneys of Gilman Law LLP announce that a Credit Suisse Lawsuit involving TVIX Exchange Traded Notes (TVIX) has been filed in the Southern District of New York (Case 12-4191). The complaint alleges that Credit Suisse AG ("Credit Suisse") understated the risks associated with exchange-traded notes such as TVIX and that the TVIX Offering Documents did not fully warn investors of the losses that could occur if Credit Suisse reached the limit of ETNs it could offer and stopped issuing them.
Legal Help with TVIX Losses
Investors who purchased or otherwise acquired shares of TVIX (VelocityShares Daily 2x VIX Short) pursuant or traceable to the November 29, 2010 pricing supplement are encouraged to contact our Securities Fraud Attorneys to discuss your rights to recovery:
Deadline: July 24, 2012
Contact: Kenneth Gilman, Gilman Law LLP
Telephone: (239) 221-8301
Website: TVIX Lawsuit Website
TVIX Lawsuit Details
Exchange traded notes (ETN) are SEC registered securities that are essentially debt instruments issued by financial institutions and allegedly allow investors exposure and hedging capability to market fluctuations. The TVIX ETN offered leveraged exposure to the VIX short-term futures index, an index comprised of front month futures with a 200% leverage on movements in the index. According to the complaint, shares of TVIX declined by over 29% as rumors about recommencing issuance of TVIX leaked into the market. Upon Credit Suisse announcing that it would reopen issuance of TVIX shares on a limited basis, shares of TVIX declined further by almost 30%. The complaint alleges that the risks leading to these large losses were materially understated or omitted in the TVIX Offering Documents.
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The experienced securities fraud attorneys of Gilman Law LLP have over 33 years of experience in securities law and have been involved in all major aspects of securities litigation. Our securities lawyers focus on cases involving stock manipulation, securities fraud, investments fraud, shareholder rights violations, and securities arbitration.