ETF Managers Group (ETFMG), Nasdaq, and PureShares have agreed on a settlement that resolves two lawsuits pertaining to the alleged theft of several exchange-traded funds including the world’s first dedicated cybersecurity ETF now known as the ETFMG Prime Cyber Security ETF (HACK US).

A US district court has ruled in favour of Nasdaq in a civil lawsuit against white-label provider ETF Managers Group (ETFMG) over the appropriation of several ETFs including a highly profitable thematic cybersecurity fund now known as the ETFMG Prime Cyber Security ETF (HACK US). ETFMG has been ordered to pay nearly $80 million in compensation and punitive damages.

VanEck has launched the VanEck Vectors Video Gaming and eSports ETF (ESPO US) on NYSE Arca. The fund provides exposure to a global equity portfolio of companies closely related to the theme of video gaming and eSports. “The video game industry is disrupting traditional media and entertainment,” said Ed Lopez, Head of ETF product at VanEck. “And with a young and highly engaged demographic, ESPO provides investors access to what we believe can be a long-term growth story.”

MV Index Solutions (MVIS), the indexing division of ETF issuer VanEck, has launched the MVIS Global Video Gaming and eSports Index, a pure-play index tracking firms involved in the development of video games and eSports events. “The video game industry has grown faster than expected in recent years and will stay on its current trajectory,” said Thomas Kettner, managing director at MVIS.

ETF Managers Group (ETFMG) is being sued by Nasdaq for allegedly fabricating reasons to justify taking control of a number of ETFs, including the $1.1 billion fund now known as the ETFMG Prime Cyber Security ETF (NYSE Arca: HACK).

White-label ETF platform ETF Managers Group has announced it has decided to close the ETFMG ETFx HealthTech ETF (Nasdaq: IMED) based on an ongoing review of market demand. Effective immediately, IMED will increase its cash holdings in contemplation of liquidation and will no longer accept creation orders.

White-label ETF platform ETF Managers Group (ETFMG) has changed the names of six ETFs within the ETF Managers Series Trust, rebranding the funds ‘ETFMG’ following a dispute with the ETFs’ original partner PureFunds and its founder Andrew Chanin. The funds in question offer a range of thematic equity exposures and include the commercially successful PureFunds ISE Cyber Security ETF (NYSE Arca: HACK), which holds more than $1.1 billion in assets under management.

The PureFunds ISE Big Data ETF (NYSE Arca: BIGD) and the PureFunds Solactive FinTech ETF (Nasdaq: FINQ), a collaboration between PureFunds and white label ETF provider ETF Managers Group, are to close.

White label exchange-traded fund issuer ETF Managers Group (ETFMG) has announced a reduction in the management fee for the PureFunds ISE Cyber Security ETF (NYSE Arca: HACK) from 0.75% to 0.60%, effective as of 1 May 2017.

White label exchange-traded fund issuer ETF Managers Group has launched its own FINRA-registered broker dealer, ETFMG Financial, to provide distribution services to its growing family of ETFs. Samuel Masucci, CEO and co-founder of ETF Managers Group, commented: “We are excited about bringing distribution in house which enhances our already expansive services that benefit our partners and the investors in our funds.”