According to the Complaint, ProShares Ultra Bloomberg Crude Oil (“UCO”) is an exchange traded fund purportedly designed to reflect the performance of crude oil as measured by the price of West Texas Intermediate (“WTI”) sweet, light crude oil futures contracts traded on the New York Mercantile Exchange. ETFs like UCO provide one of the primary means investors can gain exposure to fluctuations in oil prices.
Recent Security Class Actions
According to the Complaint, Amyris, Inc. is a science and technology leader in the research, development, and production of sustainable ingredients for the Health and Wellness, Clean Beauty, and Flavors and Fragrances markets.
According to the Complaint, Benefytt Technologies, Inc. is a health insurance technology company that primarily engages in the development and operation of private e-commerce health insurance marketplaces, consumer engagement platforms, agency technology systems, and insurance policy administration platforms.
According to the Complaint, FirstEnergy Corp. is an electric utility company headquartered in Akron, Ohio.
According to the Complaint, Intel Corporation is a technology company that provides computing, networking, data storage, and communication solutions worldwide. It operates through Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, Client Computing Group, and All Other segments.
According to the Complaint, Guidewire Software, Inc. provides enterprise-level software products and services for the global P&C insurance market. The Company’s software systems are designed to help insurance carriers improve their operational efficiency, speed to market, and customer experience by providing a central source for all customer, transactional, and financial data.
According to the Complaint, Wins Finance Holdings Inc., through its subsidiaries, purports to provide financing solutions for small and medium enterprises in the People’s Republic of China. The Company purports to offer financial guarantees, as well as financial leasing, advisory, consultancy, and agency services in Jinzhong City, Shanxi Province, and Beijing. In 2014, Wins entered into a RMB 580 million credit arrangement with Guohong. By the terms of the Guohong Loan, repayment to Wins was due in October 2019. In September 2017, Wins engaged CZD as its independent registered public accounting firm after dismissing its previous accounting firm.
According to the Complaint, Insperity, Inc. provides its customers with an array of HR and business outsourcing solutions designed to help improve business performance.
According to the Complaint, Energy Recovery, Inc. develops and manufactures energy recovery devices for oil and gas, chemical and water industries. Its leading technology is the VorTeq hydraulic pump system. In 2015, Energy Recovery entered into a 15-year licensing agreement with Schlumberger Technology Corp. (“Schlumberger”) for the exclusive use of VorTeq. Under the terms of the licensing agreement, Schlumberger paid $75 million exclusivity fee and was to pay an additional $50 million milestone payments in 2016.
According to the Complaint, Tufin Software Technologies Ltd. develops, markets, and sells software-based solutions primarily in the United States, Europe, and Asia.
