ProShares Trust II Announces Non-Reliance on Prior Financial Statements Due to Accounting Errors

Summary

ProShares Trust II announced on November 18, 2024, that its previously issued financial statements should no longer be relied upon due to errors in the classification of balances relating to futures contracts. These errors, identified during the preparation of the Form 10-Q for the quarter ended September 30, 2024, did not affect the funds' performance or net asset values but led to misclassifications in financial statements and internal control reports. The company plans to file amendments to correct these errors.