RE:For all of you that want to start a Class action I don't think that a class action is out of the question, the question is where to go to get the ball rolling.
"And don't kid yourself: The blow-up of the XIV is going to have repercussions.
I don't care how long the prospectus was, or how many risks it covered, or how much Credit Suisse warned everyone, I wouldn't be surprised if there were lawsuits.
And you can bet that regulators are sitting up and paying attention.
The SEC and the CFTC has repeatedly warned about leveraged and inverse products, many of which are Exchange Traded Notes, which are not backed by any product but instead are backed by the assets of the company issuing the note (in the case of XIV it is Credit Suisse)."
www cnbc com/2018/02/06/wall-streets-effort-to-turn-volatility-into-an-asset-class-is-partly-to-blame-for-this-market-chaos.html
A lawsuit is already being started against VelocityShares. Problem is it's only for those with over 250k invested.
https://finance.yahoo.com/news/notice-velocityshares-investors-daily-inverse-155600216.html