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3:22-cv-00511.
−Removed: The Optimum Strategies Action asserts claims under the Securities Exchange Act of 1934, as amended (the “1934 Act”), Rule 10b-5 thereunder, and the Connecticut Uniform Securities Act.
+Added: The Optimum Strategies Action asserts claims under the Securities Exchange Act of 1934, as amended (the “1934 Act”), Rule 10b-5 thereunder, and the Connecticut Uniform Securities Act ("CUSA").
It purports to challenge statements in registration statements that became effective in February 2020, March 2020, and on April 20, 2020, as well as public statements between February 2020 and May 2020, in connection with certain extraordinary market conditions and the attendant risks that caused the demand for oil to fall precipitously, including the COVID-19 global pandemic and the Saudi Arabia-Russia oil price war.
1 unchanged sentence
USCF and USO intend to vigorously contest such claims and have moved for their dismissal.
+Added: On March 15, 2023, the Court issued a decision granting defendants’
+Added: motion to dismiss, with prejudice as to the 1934 Act claims and without prejudice as to the CUSA claim.
Settlement of SEC and CFTC Investigations  
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USCF, USO, and the other defendants intend to vigorously contest the claims in I n re United States Oil Fund, LP Derivative Litigation .
−Removed: No accrual has been recorded with respect to the above legal matters as of December 31, 2022 and 2021.
+Added: No accrual has been recorded with respect to the above legal matters as of March 31, 2023 and 2022.
We are currently unable to predict the timing or outcome of, or reasonably estimate the possible losses or range of, possible losses resulting from these matters.
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.