United States Oil Fund, LP

(USO) Class Action Alert: Did You Purchase United States Oil Fund Between March 19, 2020 and April 28, 2020 – Contact Johnson Fistel

SAN DIEGO, June 22, 2020, / (PRNewswire)

Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of shareholders of United States Oil Fund, LP (“USO” or the “Company”) (NYSE: USO). The class action is on behalf of shareholders who purchased USO securities between March 19, 2020 and April 28, 2020, inclusive (the “Class Period”).

If you wish to serve as lead plaintiff in this class action, you must move the Court no later than August 18, 2020.

[Click here to join this action]

USO is an exchange-traded fund (“ETF”) supposedly designed to track the daily changes in percentage terms of the spot price of West Texas Intermediate (“WTI”) light, sweet crude oil delivered to Cushing, Oklahoma.

The lawsuit alleges that defendants stated that USO would achieve its investment objective by investing substantially all of its portfolio assets in the near month WTI futures contract. Due to extraordinary market conditions in early 2020, USO’s purported investment objective and strategy became unfeasible. According to the complaint, rather than disclose the known impacts and risks to the fund, USO held an offering of billions of dollars of USO shares in March 2020. Ultimately, the fund suffered billions of dollars in losses and was forced to abandon its investment strategy. It was not until late April and May 2020 that defendants acknowledged the extreme threats and adverse impacts that the fund had been experiencing at the time of the March offering, but which they failed to disclose to investors.

If you are interested in learning more about the case, please contact Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.  Additionally, you can [Click here to join this action]. There is no cost or obligation to you.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

  • Plaintiff certifies that:
    • 1. Plaintiff did not acquire the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this private action or any other litigation under the federal or state securities laws.
    • 2. Plaintiff is willing to serve as a representative party, including providing testimony at deposition and trial, if necessary.
    • 3. Plaintiff represents and warrants that he/she/it is fully authorized to enter into and execute this certification.
    • 4. If a class action is filed, Plaintiff will not accept any payment for serving as a representative party on behalf of a class beyond the Plaintiff's pro rata share of any recovery, except such reasonable costs and expenses (including lost wages) directly relating to the representation of the class as ordered or approved by the court.
    • 5. For purposes of a class action, Plaintiff has made no transaction(s) during the Class Period in the debt or equity securities that are the subject of this action except those set forth below:
  • Acquisitions (include: date shares were acquired, number of shares acquired, and acquisition price per share. Separate each item with a comma. For multiple acquisitions, separate each acquisition with a new line):
  • Sales (include: date shares were sold, number of shares sold, and selling price per share. Separate each item with a comma. For multiple sales, separate each sale with a new line.):
  • During the three years prior to the date of this certification, Plaintiff has not sought to serve or be served as a representative party for a class in an action filed under the federal securities law except if detailed below:

Click to view Retention Agreement