A lawsuit was filed for certain investors in VelocityShares Daily 2x VIX Short Term ETN (NYSEARCA:TVIX) over alleged securities laws violation. Deadline: July 24, 2012. TVIX investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 06/20/2012 --An investor in VelocityShares Daily 2x VIX Short Term ETN (NYSEARCA:TVIX) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged Violations of Federal Securities Laws.

Investors who purchased VelocityShares Daily 2x VIX Short Term ETN (NYSEARCA:TVIX) between November 30, 2010 and March 22, 2012, have certain options and there are strict and short deadlines running. Deadline: July 25, 2012. TVIX investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleged on behalf of purchasers of VelocityShares Daily 2x Long VIX Short-Term ETNs between November 30, 2010 and March 22, 2012, that VelocityShares, LLC and certain of its officers and directors and Credit Suisse AG and certain of its related entities and their officers and/or directors violated the Securities Exchange Act of 1934. Specifically, the plaintiff says on November 29, 2010, Credit Suisse AG and certain of its related entities disseminated the VelocityShares Pricing Supplement and those Pricing Supplement and subsequent Pricing Supplements included an important section entitled "Hypothetical Examples.", which described more specifically the risk profile of the VelocityShares Daily 2x Long VIX Short-Term ETNs by noting several variables that would affect the returns. The plaintiff says that this was meant to illustrate the effect that different factors could have on the ultimate payment and returns on an investment in the VelocityShares Daily 2x Long VIX Short-Term ETNs.

The plaintiff alleges that that the description of these factors was misleading and omitted a key factor: the effect of changes in the relationship between short-term measures of volatility and longer-term measures of volatility, sometimes referred to as the "term structure" of volatility, which was a crucial and undisclosed risk associated with the VelocityShares Daily 2x Long VIX Short-Term ETNs.

VelocityShares Daily 2x VIX Short Term ETN (NYSEARCA:TVIX) rose to $100.90 on October 3, 2011.

The plaintiff claims that on February 21, 2012, the VelocityShares Daily 2x VIX Short Term ETN increased in price when Credit Suisse AG and certain of its related entities announced it had "temporarily suspended further issuances of the [VelocityShares Daily 2x VIX Short Term ETN] due to internal limits on the size".

Once this suspension was rescinded in March 2012, VelocityShares Daily 2x VIX Short Term ETN fell to as low as $5.88 per ETN, on March 26, 2012.

VelocityShares Daily 2x VIX Short Term ETN(NYSEARCA:TVIX) closed on June 19, 2012 at $6.18 per share.

Those who purchased VelocityShares Daily 2x VIX Short Term ETN (NYSEARCA:TVIX) between November 30, 2010 and March 22, 2012, have certain options and there are strict and short deadlines running. Deadline: July 25, 2012. TVIX investors should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com