CAR_Public/090929.mbx             C L A S S   A C T I O N   R E P O R T E R

          Tuesday, September 29, 2009, Vol. 11, No. 192
  
                            Headlines

APPLE: Minn. iPhone User Sues For Not Having MMS by "Late Summer"
AT&T WIRELESS: Class Action Over AT&T Premium Phones Revived
BUSCH ENTERTAINMENT: Sea World Workers Lodge Overtime Complaint
CORUS BANKSHARES: Nov. 13 Hearing Scheduled on Motion to Dismiss
DEERE & CO: Trial Underway in Brubaker Retiree Litigation

LOWES INC: Overtime Settlement Contemplates $9.8 Mil. for Lawyers
NATIONWIDE PROPERTY: Auto Rental Fee Claim Forms Sent to Class
OCHSNER HEALTH: Sued for Mislabeling & Losing Track of Embryos
PEROT FAMILY: Suits Consolidated; Motion to Dismiss Next Month
STATE FARM: Suit Claims Wrong Reimbursement Policy for Shingles

TEXAS INDUSTRIES: Crestmore Chrome Claims Now Total 2,500
TEXAS INDUSTRIES: Oro Grande Chrome Claims Now Total 270
TORONTO-DOMONION: Visa Card Holders Receive Rebate Notices
VARIAN INC: Settles Suits Opposing Aglient Deal for $625,000

                     New Securities Fraud Cases

PROSHARES ULTRA: Bernstein Liebhard Files Complaint in S.D.N.Y.
ULTRASHORT FINANCIALS: Berger & Montague Files Suit in S.D.N.Y.

                            *********

APPLE: Minn. iPhone User Sues For Not Having MMS by "Late Summer"
-----------------------------------------------------------------
Dan Nosowitz at Gizmodo.com reports that a class-action lawsuit
identified as Case File No. 23423 has been filed by Kyle Irving,
a Minneapolis, Minn., iPhone owner user, against Apple and AT&T
for failing to provide MMS by "late summer" as promised.  MMS for
the iPhone, Mr. Nosowitz relates, came out after Labor Day.  


AT&T WIRELESS: Class Action Over AT&T Premium Phones Revived
------------------------------------------------------------
Jeff Gorman at Courthouse News Service reports that a California
appeals court reinstated a class action accusing AT&T Wireless
Services of selling premium cell phones that were useless.

Joshua Morgan and a group of California consumers sued AT&T,
alleging fraud and consumer law violations.  They said AT&T sold
them premium phones but then upgraded the network, rendering the
premium phones useless.  

The trial court ruled for AT&T, stating that the plaintiffs did
not identify an actionable misrepresentation in their 47-page
complaint.  The 2nd District Court of Appeal in Los Angeles
reversed the dismissal, finding that the class members alleged
sufficient causes of action for fraud and violations of the
Unfair Competition Law and Consumers Legal Remedies Act.

"Plaintiffs assert that AT&T sold an expensive product that
needed a specific service to operate and implied that it would
provide that service for some years . . . and that plaintiffs and
other class members were deceived because AT&T failed to disclose
it would essentially 'turn off' the service within two years,"
Justice Wilhite wrote.

A copy of the appellate court's slip opinion in Morgan, et al. v.
AT&T Wireless Services, Inc., No. B206788 (Cal. App., 2d Dist.),
is available at:

     http://www.courtinfo.ca.gov/opinions/documents/B206788.PDF

The trial court proceeding is Morgan, et al. v. AT&T Wireless
Services, Inc., No. BC318474 (Calif. Super. Ct., Los Angeles
Cty.) (Chaney, J.).  


BUSCH ENTERTAINMENT: Sea World Workers Lodge Overtime Complaint
---------------------------------------------------------------
Courthouse News Service reports that Sea World San Diego faces a
class-action overtime complaint in San Diego Superior Court.

A copy of the Complaint in Fox, et al. v. Busch Entertainment
Corp. dba Sea World San Diego, et al., Case No. 37-2009-00098964-
CU-OE-CTL (Calif. Super. Ct., San Diego Cty.), is available at:

     http://www.courthousenews.com/2009/09/25/EmploySea.pdf

The Plaintiffs are represented by:

          Glenn C. Nunes, Esq.
          THE NUNES LAW GROUP
          15760 Ventura Blvd., Suite 860
          Encino, CA 91436
          Telephone: 818-783-7965

               - and -  

          Christopher J. Hamner, Esq.
          HAMNER LAW OFFICES, LP
          15760 Ventura Blvd., Suite 860
          Encino, CA 91436
          Telephone: 818-386-0444
   

CORUS BANKSHARES: Nov. 13 Hearing Scheduled on Motion to Dismiss
----------------------------------------------------------------
As previously reported in the Class Action Reporter, during the
first quarter of 2009, Corus Bankshares, Inc., and Mr. Robert J.
Glickman, the Company's former Chief Executive Officer, were
named as defendants in a purported class action lawsuit filed in
the U.S. District Court for the Northern District of Illinois
alleging violations of federal securities laws.  In April 2009, a
second purported securities class action lawsuit was filed in the
Northern District of Illinois against Corus and Mr. Glickman and
adding as additional defendants Tim H. Taylor and Michael E.
Dulberg.  Later in April 2009, two additional securities class
actions were filed in the Northern District of Illinois against
Corus and Messrs. Glickman, Taylor, and Dulberg.  One of the two
most recent lawsuits also added as additional defendants members
of the Company's Board of Directors, specifically Messrs. Joseph
P. Glickman, Robert J. Buford, Kevin R. Callahan, Rodney D.
Lubeznik, Michael J. McClure, and Peter C. Roberts.  These four
lawsuits:

     -- Jones v. Corus Bankshares, Inc., et al., Case No.
        09-cv-01538 (N.D. Ill., filed Mar. 11, 2009)
        (Bucklo, J.);

     -- Brady v. Corus Bankshares, Inc., et al., Case No.
        09-cv-02154 (N.D. Ill., filed Apr. 7, 2009);

     -- Kinney v. Corus Bankshares, Inc., et al., Case No.
        09-cv-02443 (N.D. Ill., filed Apr. 22, 2009); and

     -- Chan v. Corus Bankshares, Inc., et al., Case No.
        09-cv-02429 (N.D. Ill., filed April 22, 2009);

were brought on behalf of shareholders who purchased the
Company's common stock between January 25, 2008 and January 30,
2009, allege primarily that the defendants violated the federal
securities laws by disseminating materially false and misleading
statements during the above-described period.  The lawsuits seek
unspecified damages.

Corus and the individual defendants filed an unopposed motion to
reassign the related, second-filed case to the judge assigned to
the first-filed lawsuit, and that motion was granted.  
Subsequently, the other two cases were also reassigned to this
judge.  On June 17, 2009, the court entered an order naming a
lead plaintiff for the consolidated cases and approving lead
plaintiff's choice of counsel.  The court gave the lead plaintiff
leave to file a consolidated, amended complaint and ordered that
all other complaints would be dismissed upon the filing of the
consolidated, amended complaint.  The lead plaintiff filed its
consolidated, amended complaint on August 3, 2009 naming only
Corus and Messrs. Glickman and Taylor as defendants.  

Defendants intend to file a motion to dismiss the complaint.  The
court has set a briefing schedule on that motion and has
scheduled the case for further status and ruling on the motion on
November 13, 2009.

Because these lawsuits were recently filed and there are
significant uncertainties involved in any potential class action
litigation, Corus says in its Form 10-Q delivered to the
Securities and Exchange Commission on Sept. 25, 2009, management
is unable to predict the outcome of the purported class action
lawsuits and therefore cannot currently reasonably determine the
estimated future impact on the financial condition or results of
operations of the Company.  Corus and the individuals named
intend to vigorously defend these lawsuits.

In the consolidated action, the Plaintiffs are represented by:

          Lori Ann Fanning, Esq.
          Marvin Alan Miller, Esq.
          MILLER LAW LLC
          115 South LaSalle Street, Suite 2910
          Chicago, IL 60603
          Telephone: (312) 332-3400
          Fax: (312) 676-2676
          E-mail: LFanning@MillerLawLLC.com
                  Mmiller@millerlawllc.com

               - and -  

          Sarah R. Holloway, Esq.
          COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP
          100 Pine Street, Suite 2600
          San Diego, CA 92101
          Telephone: 415-288-4545
          E-mail: sholloway@csgrr.com

               - and -  

          Danielle Suzanne Myers, Esq.
          John J. Rice, Esq.
          COUGHLIN STOIA GELLER RUDMAN & ROBBINS, LLP
          655 W. Broadway, Suite 1900
          San Diego, CA 92101
          Telephone: (619) 231-1058
          E-mail: dmyers@csgrr.com
                  jrice@csgrr.com

Corus Bankshares and Messrs. Glickman and Taylor are represented
by:

          Michael Jon Gill, Esq.
          Michele Louise Odorizzi, Esq.
          David D. Pope, Esq.
          John Joseph Tharp, Jr.
          MAYER BROWN LLP
          71 South Wacker Drive
          Chicago, IL 60606
          Telephone: (312) 782-0600


DEERE & CO: Trial Underway in Brubaker Retiree Litigation
---------------------------------------------------------
Jennifer DeWitt at Davenport, Iowa's Quad-City Times reports that
the first week of a bench trial before the Honorable Charles
Wolle is over and another week of testimony and argument is
expected in Brubaker, et al. v. Deere & Company, Plan
Administrator and Named Fiduciary of the John Deere Health
Benefit Plan for Salaried Employees, et al., Case No. 08-00113
(S.D. Iowa).  

Ms. DeWitt's report is available at http://is.gd/3GLlA


LOWES INC: Overtime Settlement Contemplates $9.8 Mil. for Lawyers
-----------------------------------------------------------------
As reported in the Sept. 25, 2009, edition of the Class Action
Reporter, a Los Angeles Superior Court judge gave final approval
to a class action overtime pay settlement involving Lowes Home
Improvement which calls for a maximum payment of $29.5 million.  

A copy of the settlement agreement is available from FindLaw at
http://is.gd/3Iy4y

The settlement agreement indicates that class counsel will be
asking the Court to award them $9.8 million in compensation.  

The Plaintiffs are represented by:

          Stanley D. Saltzman, Esq.
          Louis M. Marlin, Esq.
          Marcus J. Bradley, Esq.
          MARLIN & SALTZMAN
          29299 Can Wood Street, Suite 208
          Agoura Hills, CA 91301-1555
          Telephone: 818-991-8080

               - and -  

          Robert Parris, Esq.
          R. REX PARRIS LAW FIRM
          963 West Avenue J
          Lancaster, CA 93534-3428
          Telephone: 661-949-2595

Lowe's is represented by:

          Phillip J. Eskenazi, Esq.
          HUNTON & WILLIAMS LLP
          550 South Hope Street, Suite 2000
          Los Angeles, CA 90071
          Telephone: 213-532-2000


NATIONWIDE PROPERTY: Auto Rental Fee Claim Forms Sent to Class
--------------------------------------------------------------
Epiq Systems, Inc., the Claims Administrator in Van Horn, et al.
v. Nationwide Property and Casualty Insurance Company, et al.,
Case No. 08-CV-605 (N.D. Ohio) (Gwin, J.), has distributed claim
forms to potential class members.  

As reported in the Class Action Reporter, the lawsuit is about
whether Nationwide breached the contract with its policyholders
by prematurely terminating the car rental benefits that it owed
its policyholders when it makes an "offer" to settle its
automobile policyholders' total loss claims.

The litigation covers anyone who was insured by Nationwide
Property between Oct. 2, 1993 and Feb. 10, 2009.

Additional information about the litigation and proposed
settlement is available at http://nationwideclassaction.com/

The Class is represented by:

          Brian S. Kabateck, Esq.
          Richard L. Kellner, Esq.
          KABATECK BROWN KELLNER LLP
          644 South Figueroa Street
          Los Angeles, California 90017
          Phone: (213) 217-5000
          Fax: (213) 217-5010

               - and -  

          Austin Tighe, Esq.
          FEAZELL & TIGHE LLP
          6300 Bridgepoint Parkway, Suite 220
          Austin, Texas 78730
          Phone: (512) 372-8100
          Fax: (512) 372-8140

               - and -

          Alberto R. Nestico, Esq.
          KISLING, NESTICO & REDICK LLC
          3200 W. Market Street, Suite 300
          Akron, Ohio 44333
          Phone: (330) 869-9007
          Fax: (330) 869-9008

Defense Counsel is:

          Michael H. Carpenter, Esq.
          CARPENTER LIPPS & LELAND LLP
          280 Plaza, Suite 1300
          280 North High Street          
          Columbus, OH 43215


OCHSNER HEALTH: Sued for Mislabeling & Losing Track of Embryos
--------------------------------------------------------------
Bigad Shaban, a WWL-TV Eyewitness News reporter in New Orleans,
reports that a class action lawsuit was filed last week against
Ochsner Health Systems Center for mislabeling and losing track of
embryos for its in vitro fertilization program.  

The class-action lawsuit was filed on a couple's behalf and seeks
damages for the loss or destruction of their embryos, past and
future medical expenses, loss of enjoyment of life and keen
mental anguish, fear, embarrassment, humiliation, and emotional
distress.

Friday, Mr. Shaban reports, Ochsner issued a public apology.  "We
are disappointed in ourselves in what we have learned to date. We
are deeply sorry for the concerns, anxiety and fear we know this
causes our patients," said Dr. Patrick Quilan, Ochsner CEO.

The Plaintiffs are represented by:

          Kara H. Samuels, Esq.
          GAINSBURGH, BENJAMIN, DAVID, MEUNIER & WARSHAUER, LLC
          2800 Energy Centre, 1100 Poydras Street
          New Orleans, LA 70163-2800
          Telephone: 504-522-2304
          Fax: 504-528-9973


PEROT FAMILY: Suits Consolidated; Motion to Dismiss Next Month
--------------------------------------------------------------
Brendan Case and Gary Jacobson at The Dallas Morning News report
that two lawsuits against The Perot Family Trust and others
related to the collapse of the $2.5 billion Parkcentral Global
Hub Ltd. hedge fund have been consolidated and a motion to
dismiss is expected next month.  

The two lawsuits over who is responsible and if anyone's legally
liable for the hedge fund's downfall are:

     -- Levine Capital Ltd. v. The Perot Family Trust, et al.,
        Case No. 09-cv-00826 (N.D. Tex., filed May 4, 2009); and

     -- Southern Avenue Partners, L.P. v. The Perot Family Trust,
        et al., Case No. 09-cv-00765 (N.D. Tex., filed Apr. 27,
        2009).

Messrs. Case and Jacobson relate that the defense team, led by:

          Barry F. McNeil, Esq.
          HAYNES & BOONE, LLP
          2323 Victory Avenue, Suite 700
          Dallas, TX 75219
          Telephone: 214.651.5580

has until next month to file a motion to dismiss the case.  Mr.
McNeil promised that his filing would be "darn persuasive."

"In my judgment, the lawsuit is just frivolous," Mr. McNeil told
Messrs. Case and Jacobson.

The Plaintiffs are represented by:

          Darren J. Robbins, Esq.
          James I. Jaconette, Esq.
          COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP
          655 West Broadway, Suite 1900
          San Diego, CA 92101-3301
          Telephone: 619-231-1058

               - and -  

          Joel M. Fineberg, Esq.
          R. Dean Gresham, Esq.
          Fineberg / Gresham
          3811 Turtle Creek Blvd., Suite 1900
          Dallas, TX 75219
          Telephone: 214-219-8828      

               - and -  

          Ellen A. Presby, Esq.
          PRESBY LAW OFFICE
          10000 North Central Expressway, Suite 400
          Dallas, TX 75231
          Telephone: 214-890-4045


STATE FARM: Suit Claims Wrong Reimbursement Policy for Shingles
---------------------------------------------------------------
Courthouse News Service reports that State Farm "violates the
uniform building code adopted in virtually every state in the
country" by paying for only "spot" coverage of shingles, a class
action claims in Kansas City, Mo., Federal Court.

A copy of the Complaint in O'Neal, et ux. v. State Farm Fire &
Casualty Company, Case No. 09-cv-00778 (W.D. Mo.), is available
at:

     http://www.courthousenews.com/2009/09/25/Insure.pdf

The Plaintiffs are represented by:

          John J. Schirger, Esq.
          Stephen R. Miller, Esq.
          Matthew W. Lytle, Esq.
          MILLER SCHIRGER, LLC
          800 W. 46th Street, Suite 630
          Kansas City, MO 64112
          Telephone: 816-561-6500
          
               - and -  

          Michael D. Pospisil, Esq.
          John M. Edgar, Esq.
          John F. Edgar, Esq.
          EDGAR LAW FIRM, LLC
          1032 Pennsylvania Ave.
          Kansas City, MO 64105
          Telephone: 816-531-0033


TEXAS INDUSTRIES: Crestmore Chrome Claims Now Total 2,500
---------------------------------------------------------
Texas Industries, Inc., disclosed last week that five more
lawsuits have been filed in 2009 against the company by
individuals alleging personal injury and wrongful death because
of exposure to chrome 6 and other toxic or harmful substances in
the air, water and soil caused by emissions from the company's
Crestmore plant.  The plaintiffs allege causes of action that
vary somewhat from suit to suit, but typically include, among
other things, negligence, intentional and negligent infliction of
emotional distress, trespass, public and private nuisance, strict
liability, willful misconduct, fraudulent concealment, wrongful
death and loss of consortium.  The plaintiffs generally request,
among other things, general and punitive damages, medical
expenses, loss of earnings, property damages and medical
monitoring costs.  Some of the suits include additional
defendants, such as predecessor owners of Riverside and the owner
of another cement plant located approximately four miles from the
Crestmore plant.

As reported in the Class Action Reporter on July 21, 2009, Texas
Industries, Inc.'s subsidiary, Riverside Cement Co., continues to
defend a purported class-action complaint styled, Virginia
Shellman, et al. v. Riverside Cement Holdings Company, et al.,
Case No. _________ (Calif. Super. Ct., Riverside Cty.).  

Lawsuits on behalf of approximately 2,500 individual plaintiffs
have been filed against Texas Industries in Riverside County,
Calif., to date.  While Shellman proceeds, all other cases filed
in Riverside County are stayed.


The Shellman action purports to be a class action for medical
monitoring for a putative class defined as individuals who were
allegedly exposed to chrome 6 emissions from the company's
Crestmore cement plant.  The complaint alleges an increased risk
of future illness due to the exposure to chrome 6 and other toxic
chemicals.  The suit requests, among other things, punitive and
exemplary damages and establishment and funding of a medical
testing and monitoring program for the class until their exposure
to chrome 6 is no longer a threat to their health.

Texas Industries, Inc. -- http://www.txi.com/-- is a supplier of
heavy construction materials in the United States through its
three business segments: cement, aggregates and consumer
products.  The company's cement segment produces gray portland
cement and specialty cements.  Its cement production and
distribution facilities are concentrated primarily in Texas and
California.  The company's aggregates segment produces natural
aggregates, including sand, gravel and crushed limestone, and
specialty lightweight aggregates.  Its consumer products segment
produces primarily ready-mix concrete and, to a lesser extent,
packaged products.  The company is a supplier of natural
aggregates and ready-mix concrete in Texas and northern
Louisiana, and to a lesser extent, in Oklahoma and Arkansas.


TEXAS INDUSTRIES: Oro Grande Chrome Claims Now Total 270
--------------------------------------------------------
Texas Industries, Inc., disclosed last week that it knows of 270
lawsuits filed against the company by individuals alleging
personal injury and wrongful death because of exposure to toxic
chemicals at its Oro Grande, Calif., cement plant.  

Texas Industries disputes these claims.  Prior to the filing of
the lawsuits, the air quality management district in whose
jurisdiction the plant lies conducted air sampling from locations
around the plant.  None of the samples contained chrome 6 levels
above 1.0 nanogram per cubic meter.

Texas Industries, Inc. -- http://www.txi.com/-- is a supplier of
heavy construction materials in the United States through its
three business segments: cement, aggregates and consumer
products.  The company's cement segment produces gray portland
cement and specialty cements.  Its cement production and
distribution facilities are concentrated primarily in Texas and
California.  The company's aggregates segment produces natural
aggregates, including sand, gravel and crushed limestone, and
specialty lightweight aggregates.  Its consumer products segment
produces primarily ready-mix concrete and, to a lesser extent,
packaged products.  The company is a supplier of natural
aggregates and ready-mix concrete in Texas and northern
Louisiana, and to a lesser extent, in Oklahoma and Arkansas.


TORONTO-DOMONION: Visa Card Holders Receive Rebate Notices
----------------------------------------------------------
CBC News reports that Toronto-Dominion Bank has recently mailed
rebate notices to its clients who opened Visa credit card
accounts before Sept. 1, 2001, and to businesses that opened
accounts before June 1, 2003.

The rebates, which are credited to cardholders' accounts, are
part of a $55-million class action settlement approved by the
Ontario Superior Court of Justice in Cassano, et al. v. The
Toronto-Dominion Bank, Court File No. 97-CV-1208598 CP (Ont.
Super. Ct. J.) (Cullity, J.), on July 9, 2009, that requires TD
to pay $11 million to members of the class action.

The suit stems from allegations that TD charged cardholders
"undisclosed, inadequately disclosed or unauthorized fees or
charges in respect of debits and credits incurred on their TD
Visa accounts in a foreign currency," according to literature
from the company that accompanies the rebate notice.

According to Windsor, Ont.-based lawyer, Harvey Strosberg, Esq.,
at Sutts, Strosberg, LLP, who represented the plaintiffs in the
class action proceeding, TD charged cardholders a 1% foreign
currency fee without properly informing them of the charge.  TD
Visa denies any wrongdoing in the case.

A TD Visa customer service representative told CBC News Friday
that the average rebate amount per person will be around $8.

All eligible TD Visa cardholders were automatically entered in
the class action unless they chose to opt out last year.

TD Visa customers who have questions are advised to call
1-800-983-8472.  Information about the class action can also be
found at http://www.tdvisaclassaction.com/


VARIAN INC: Settles Suits Opposing Aglient Deal for $625,000
------------------------------------------------------------
On September 25, 2009, Varian, Inc., Agilent Technologies, Inc.,
and Cobalt Acquisition Corp, a wholly owned subsidiary of Agilent
entered into a memorandum of understanding regarding the
settlement of purported class action lawsuits that were filed on
behalf of Varian stockholders following the announcement of the
Agreement and Plan of Merger, dated as of July 26, 2009, by and
among the Varian, Agilent and Cobalt.  The Merger Agreement
contemplates the merger of Cobalt with and into Varian, with
Varian surviving as a wholly owned subsidiary of Agilent.

As reported in the Class Action Reporter on August 7 and 17,
2009, several purported stockholder class actions were filed in
the Superior Court for the County of Santa Clara in connection
with the announcement of the proposed Merger.  Two other
complaints were subsequently filed, and all of the cases were
consolidated as In re Varian, Inc. Shareholder Litigation.

The plaintiffs in the complaints, which named as defendants
Varian and its board of directors as well as Agilent and Cobalt,
generally alleged that Varian's directors, in approving the
proposed Merger, breached fiduciary duties owed to the Company's
stockholders because they failed to take steps to maximize the
value to the Company's public stockholders and failed to disclose
adequate information in the proxy statement for the Merger.  The
complaints further alleged that Varian, Agilent and Cobalt aided
and abetted the alleged breach of fiduciary duties.

The Complaints sought class certification, damages and certain
forms of equitable relief, including enjoining the consummation
of the Merger.

Varian, the individual defendants, Agilent and Cobalt continue to
believe the claims to be without merit.  

Nevertheless, without admitting any liability or wrongdoing, the
defendants have agreed in principle to settle the Litigation in
order to avoid the potential cost and distraction of continued
litigation and to eliminate any risk of any delay to the Merger
posed by the Litigation.  

Pursuant to the settlement anticipated by the parties' agreement
in principle, plaintiffs' counsel may seek fees and costs of up
to $625,000, subject to Court approval.  The settlement is
subject to execution and delivery of a stipulation of settlement
and other definitive documentation, confirmatory discovery, the
closing of the Merger, notice to stockholders, and Court
approval.  If the settlement becomes effective, the Litigation
will be dismissed in its entirety with prejudice.

Pursuant to the terms of the settlement, Varian has agreed to
make available certain additional information to its
stockholders, and has done so in a Form 8-K delivered to the
Securities and Exchange Commission on Sept. 25, 2009.  


                   New Securities Fraud Cases

PROSHARES ULTRA: Bernstein Liebhard Files Complaint in S.D.N.Y.
---------------------------------------------------------------
The law firm of Bernstein Liebhard LLP filed a class action
lawsuit on September 25, 2009, in the United States District
Court for the Southern District of New York, on behalf of all
persons who purchased or otherwise acquired shares in the
UltraShort ProShares Financials fund (NYSE: SKF), an exchange-
traded fund offered by ProShares Trust, pursuant or traceable to
ProShares' false and misleading Registration Statement,
Prospectuses, and Statements of Additional Information issued in
connection with shares of the SKF Fund.  The Class is seeking to
pursue remedies under Sections 11 and 15 of the Securities Act of
1933.

The complaint names ProShares, ProShare Advisors LLC, SEI
Investments Distribution Co., Michael L. Sapir, Louis M. Mayberg,
Russell S. Reynolds, III, Michael Wachs, and Simon D. Collier, as
defendants.  ProShares sells its Ultra and UltraShort ETFs as
"simple" directional plays.  As marketed by ProShares, Ultra ETFs
are designed to go up when markets go up; UltraShort ETFs are
designed to go up when markets go down. The SKF Fund is one of
ProShares' UltraShort ETFs.  The SKF Fund seeks investment
results that correspond to twice the inverse (-200%) daily
performance of the Dow Jones U.S Financials Index ("DJFIX"),
which measures the performance of the real estate sector of the
U.S. equity market. Accordingly, the SKF Fund is supposed to
deliver double the inverse return of the DJFIX, which fell
approximately 52.2 percent from January 2, 2008, through
December 17, 2008, ostensibly creating a profit for investors who
anticipated a decline in the U.S. financials market.  In other
words, the SKF Fund should have appreciated by over 104 percent
during this period. However, the SKF Fund only appreciated
approximately 2.2 percent during this period.

The complaint alleges the Defendants violated the Securities Act
by failing to disclose the following risks, inter alia, in the
Registration Statement: (1) if SKF Fund shares were held for a
time period longer than one day, the likelihood of catastrophic
losses was huge; and (2) the extent to which performance of the
SKF Fund would inevitably diverge from the performance of the
DJFIX -- i.e., the overwhelming probability, if not certainty, of
spectacular divergence.

Plaintiff in the SKF Action seeks to recover damages on behalf of
all Class members who purchased or otherwise acquired shares of
ProShares SKF. If you purchased or otherwise acquired ProShares
SKF shares, and either lost money on the transaction 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 October 20, 2009.

The current deadlines for the SRS and SKF cases to move for lead
plaintiff are as follows:

          SRS Fund -- October 5, 2009

          SKF Fund -- October 20, 2009

A "lead plaintiff" is a representative party that acts on behalf
of other class members in directing the litigation. In order to
be appointed lead plaintiff, the court must determine that the
class member's claim is typical of the claims of other class
members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members may
together serve as lead plaintiff. Your ability to share in any
recovery is not, however, affected by the decision whether or not
to serve as a lead plaintiff. You may retain Bernstein Liebhard
LLP, or other counsel of your choice, to serve as your counsel in
this action.

If you purchased or otherwise acquired shares in any of the funds
listed above, and either lost money on the transaction or still
hold the shares, please call our office to discuss your rights.

If you would like to discuss the SKF or SRS Actions, claims
concerning any leveraged ProShares funds, or if you have any
questions concerning this Notice, please contact Christian
Siebott or Joseph R. Seidman, Jr. at (877) 779-1414.

Bernstein Liebhard has pursued hundreds of securities and
consumer cases and recovered approximately $2 billion for its
clients. It has been named to "The National Law Journal's"
"Plaintiffs' Hot List" in each of the last six years.

You can view a copy of the SKF or SRS complaints online at
http://www.bernlieb.com/or obtain it from the court.

          Christian Siebott, Esq.
          Joseph R. Seidman, Jr., Esq.
          Bernstein Liebhard LLP
          10 East 40th Street
          New York, New York 10016
          Telephone: (877) 779-1414
          http://www.bernlieb.com/


ULTRASHORT FINANCIALS: Berger & Montague Files Suit in S.D.N.Y.
---------------------------------------------------------------
Berger & Montague, P.C. filed a class action lawsuit on September
25, 2009, in the United States District Court for the Southern
District of New York, on behalf of all persons who purchased or
otherwise acquired shares in the UltraShort Financials ProShares
Fund (the "SKF Fund"), an exchange-traded fund offered by
ProShares Trust, pursuant or traceable to ProShares' false and
misleading Registration Statement, Prospectus, and Statements of
Additional Information issued in connection with the SKF Fund's
shares.  The Class is seeking to pursue remedies under Sections
11 and 15 of the Securities Act of 1933.

If you sustained substantial losses on your purchases of the SKF
Fund and would like to consider serving as lead plaintiff, or
have any questions about the lawsuit, please contact Barbara A.
Podell, Esq., of Berger & Montague, P.C., at 888-891-2289, or via
email at bpodell@bm.net.  Lead Plaintiff motion papers must be
filed no later than October 20, 2009.  A Lead Plaintiff is a
court-appointed representative who acts on behalf of other class
members in directing the litigation.

If you are a member of this class, you can view a copy of the
complaint online at http://www.bergermontague.com/

The complaint names ProShares, ProShares Advisors LLC, SEI
Investments Distribution Co., Michael L. Sapir, Louis M. Mayberg,
Russell S. Reynolds, III, Michael Wachs, and Simon D. Collier, as
defendants.  ProShares sell its UltraShort ETFs like the SKF
Fund, as "simple" directional pays. As marketed by ProShares,
UltraShort ETFs are designed to go up when markets go down.  The
SKF Fund seeks investment results that correspond to twice the
inverse (-200%) daily performance of the Dow Jones U.S.
Financials Index ("DJFI"), which measures the performance of the
financial services industry of the U.S. equity market. The
complaint alleges that, although ProShares represents that the
SKF Fund delivers double the inverse return of the DJFI, the Fund
is defective as a directional play or a hedge.  For example, from
September 15, 2008 through October 31, 2008, which was a period
of extreme financial tumult in the U.S. financials markets, the
DJFI fell 17.37%.  The SKF Fund should have appreciated by
34.74%, according to Defendants' representations, but it actually
fell 5.98% during this period.  Therefore, SKF performed nearly
the opposite of how it was represented and marketed.

The complaint alleges the Defendants violated the Securities Act
by failing to disclose that the SKF Fund is altogether defective
as a directional investment play and fails to perform anywhere
near investors' reasonable expectations. Defendants failed to
disclose the following risks in the Registration Statement: (i)
the mathematical probability that SKF's performance will fail to
track the performance of the DJFI over any period longer than a
single trading day; (ii) that greater volatility experienced by
the DJFI will result in SKF underperforming the DJFI by a
material amount; (iii) that SKF is not a directional play on the
performance of financial stocks, but instead is dependent on the
volatility and path the DJFI takes over any time period greater
than a single day; (iv) that SKF was not a simple investment that
could be used over time to hedge against a downturn in financial
stocks; and (v) that based upon the mathematics of compounding
and the volatility of the DJFI, SKF was highly unlikely to
achieve its stated investment objectives over time periods longer
than a single trading day.

For more information about this case and a more thorough
explanation of the Lead Plaintiff selection process, please
contact:

         Sherrie R. Savett, Esq.
         Barbara A. Podell, Esq.
         Phyllis M. Parker, Esq.
         Eric Lechtzin, Esq.
         Kimberly A. Walker, Investor Relations Manager
         BERGER & MONTAGUE, P.C.
         1622 Locust Street
         Philadelphia, PA  19103
         Telephone: 215-875-3000

Berger & Montague, founded in 1970, is a pioneer in class action
litigation. The firm's approximately 60 attorneys concentrate
their practice in complex litigation, including securities fraud
and corporate governance, antitrust, civil rights, consumer
protection and environmental and mass torts, and have recovered
billions of dollars for consumers and investors.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

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Copyright 2009.  All rights reserved.  ISSN 1525-2272.

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