If You Purchased Or Otherwise Acquired Shares Of The Oppenheimer Champion Income Fund (The “Champion Income Fund”), During The Period From January 1, 2006 Through December 31, 2008, Inclusive, You Could Receive A Payment From A Class Action Settlement.
A class action settlement has been reached in a class action lawsuit against OppenheimerFunds, Inc. (“OFI”), OppenheimerFunds Distributor, Inc., Oppenheimer Integrity Funds (“OIF”) and others (collectively “Defendants”) in the United States District Court for the District of Colorado (styled In re: Oppenheimer Champion Income Fund, Civil Class Action Case No. 09-cv-386-JLK-KMT) alleging, among other things, that the Disclosure Documents made false and misleading statements and omissions regarding the investment profile and objectives of the Oppenheimer Champion Income Fund and that Defendants allegedly violated federal law in registering, marketing and selling the Oppenheimer Champion Income Fund as a “diversified portfolio” of high-yield, lower-grade, fixed-income securities that “[did] not involve undue risk” since the Oppenheimer Champion Income Fund was allegedly overly concentrated in highly leveraged, illiquid, off-balance sheet derivatives such as credit default swaps, total return swaps and mortgage-backed securities, making the Oppenheimer Champion Income Fund much riskier than represented, according to the Oppenheimer Champion Income Fund class action lawsuit settlement notice.
The Oppenheimer Champion Income Fund Settlement Class reportedly includes all persons and entities who purchased or acquired shares of the Oppenheimer Champion Income Fund during the period from January 1, 2006 through December 31, 2008, inclusive, and who were damaged thereby
The Oppenheimer Champion Income Fund class action settlement reportedly provides that Defendants have agreed to pay $52,500,000 million in cash to pay attorneys fees and expenses, costs of settlement administration, and to class member claims.
In order to participate in the Oppenheimer Champion Income Fund class action settlement, class members are reportedly required to complete and return a Proof of Claim form (“Proof of Claim”), listing their Oppenheimer Champion Income Fund share purchases, sales, dividend income, and dividend reinvestments between January 1, 2006 and December 31, 2008 and supply supporting documentation.
The Court will reportedly hold a settlement hearing at 1:30 p.m. on September 30, 2011 at the Alfred A. Arraj United States Courthouse, 901 19th Street, Denver, Colorado at which time the Court may consider whether the Oppenheimer Champion Income Fund settlement is fair, reasonable, and adequate.
For more information on the Oppenheimer Champion Income Fund
class action lawsuit settlement, visit the In Re: Oppenheimer Champion Income Fund class action settlement website:
www.oppenheimerchampionsettlement.com
If You Have Thoughts About The Oppenheimer Champion Income Fund
Class Action Settlement, Share Your Settlement Thoughts Below.
Some time ago I submitted information, and received confirmation, of the this information re Oppenheimer Championship Fund.The number of shares was verified and it was said that some settlement was made. To date I havenot received any information or date of payment. Please update status.
As the settlement hearing was had on September 30, 2011; notfication
of any action that was taken has not been forwarded to the investors
that have been hurt. Please advise.
I originally had 2030 shares of the Champion Fund and ended up selling 88 shares of the fund that was still left when I decided to leave the stock market….Can you tell me how that affects my status in the final analysis?…..I would appreciate any information that might be available. Mel Graff
I received a letter including Fund Transactions Summary. I was told in the letter that if I agreed to the information, so action was necessary. I haven’t heard anything on this subject in a long time. My account # is 001921920705265. The Secondary Acct. # is AC 7755-0448. I would appreciate an update…Gene.
I received a letter about the Class action suit, and responded back, I was ask to fill out a form about my shares, I signed and returned the form in July of 2011. I had not heard from anyone, so I called in Mar of 2012. I was given a Tracking No. and told, I would receive a letter in a few weeks, that never happened, so I called again, this time I was told, they happened received anything from me! Please tell me what’s going on?
i am still waiting for info. on class action claim. champion fund account no#001901901902760967 champion fund and no # 2851444168 bond fund. is int. being charged for this delay? civil action no. 09-cv-386-jlk-kmt civil action no. 09-cv-1186-jlk-kmt tracking#169269 and tracking #767606
I just received a settlement check for $181.00. This is about 12cents on a dollar for the amount I lost in 2008. The attorneys reap most of the settlement and the invester gets squat.
Received two settlement checks today (12/26/12). My banking institution (Bank of America) will not accept them for deposit. The Claims Administration phone contact is useless. They could not provide any information nor did they have a direct number for Oppenheimer to assist me. What good is a settlement if banks don’t accept the distribution checks!
my folks James S. Rice and Rose Rice, both recivied settlement checks from the claims administrator checks # are as fallows 900722 and 900723 respectfully both dated 02/14/2013. they tried to deposit the checks in there bank account with the Antilope Valley Bank located in Palmdale CA. the bank would not accept the checks for deposit because the checks are made out to RPSS TR IRA FBO JAMES S. RICE and RPSS TR IRA ROSE RICE with addresses 38621 Yucca Tree St. Palmdale CA 93551-5007. My Mom has contacted the claims administrator at the number provided 1 877-846-9918 and reported the problem to them at no avail. the checks should be made out to james s. rice and rose rice only for the bank to escept them. I am planning on contacting the securitys and exchange dept. of the united states and demand they look into this problem also the checks state deposit promptly, void and subject to re-distribution 60 days after distribution date