STOOPLER v. DIREXION SHARES ETF TRUST

Nos. 09 Civ. 8011 (RJH), 09 Civ. 8375 (RJH), 09 Civ. 8459 (RJH), 10 Civ. 271 (RJH), 10 Civ. 273 (RJH)

EVAN STOOPLER, INDIVIDUALLY AND ON BEHALF OF ALL OTHERS SIMILARLY SITUATED, Plaintiff, v. DIREXION SHARES ETF TRUST, DANIEL O'NEILL, TODD KELLERMAN, DANIEL J. BYRNE, GERALD E. SHANLEY, III., JOHN WEISSER AND RAFFERTY ASSET MANAGEMENT LLC, Defendants. MILTON PFEIFFER, INDIVIDUALLY AND ON BEHALF OF ALL OTHERS SIMILARLY SITUATED, Plaintiff, v. DIREXION SHARES ETF TRUST, DANIEL O'NEILL, TODD KELLERMAN, DANIEL J. BYRNE, GERALD E. SHANLEY, III., JOHN WEISSER AND RAFFERTY ASSET MANAGEMENT LLC, Defendants. THOMAS C. LONGMAN, INDIVIDUALLY AND ON BEHALF OF ALL OTHERS SIMILARLY SITUATED, Plaintiff, v. DIREXION SHARES ETF TRUST, DANIEL O'NEILL, TODD KELLERMAN, DANIEL J. BYRNE, GERALD E. SHANLEY, III., JOHN WEISSER AND RAFFERTY ASSET MANAGEMENT LLC, Defendants. HOWARD SCHWACK, INDIVIDUALLY AND ON BEHALF OF ALL OTHERS SIMILARLY SITUATED, Plaintiff, v. DIREXION SHARES ETF TRUST, DANIEL O'NEILL, TODD KELLERMAN, DANIEL J. BYRNE, GERALD E. SHANLEY, III., JOHN WEISSER AND RAFFERTY ASSET MANAGEMENT LLC, Defendants. WILLIAM LEE, INDIVIDUALLY AND ON BEHALF OF ALL OTHERS SIMILARLY SITUATED, Plaintiff, v. DIREXION SHARES ETF TRUST, DANIEL J. BYRNE, GERALD E. SHANLEY, III., JOHN WEISSER AND RAFFERTY ASSET MANAGEMENT LLC, Defendants.

United States District Court, S.D. New York.

August 12, 2010.


MEMORANDUM OPINION AND ORDER

RICHARD J. HOLWELL, District Judge.

The Direxion Shares ETF Trust ("Direxion") is an investment management company that is comprised of a number of separate series or funds. Presently before the Court are five related securities actions brought against Direxion, certain of its directors and officers, and its investment advisor, Rafferty Asset Management, LLC (collectively, "Defendants"), arising from plaintiffs...

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