If You Purchased Or Otherwise Acquired Shares Of The Oppenheimer Core Bond Fund, A Series Of Oppenheimer Integrity Funds (The “Core Bond Fund”), During The Period From April 30, 2007 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: Core Bond Fund, Civil Class Action Case No. 09-cv-1186-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 Core Bond Fund and that Defendants alllegedly violated federal law in registering, marketing and selling the Core Bond Fund as a “broadly diversified portfolio” that was designed to “seek total return and reduce share price volatility” and was focused “mainly on U.S. government securities and investment-grade debt securities” since the Core Bond 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 Core Bond Fund much riskier than represented, according to the Oppenheimer Core Bond Fund class action lawsuit settlement notice.
The Oppenheimer Core Bond Fund Settlement Class reportedly includes all persons and entities who purchased or acquired shares of the Core Bond Fund during the period from April 30, 2007 through December 31, 2008, inclusive, and who were damaged thereby
The Oppenheimer Core Bond Fund settlement reportedly provides that Defendants have agreed to pay $47,500,000 million in cash. The balance of this fund after payment of Court-approved attorneys’ fees and expenses and the costs of settlement administration, including the costs of printing and mailing this Notice, (the “Net Settlement Fund”) will be divided among all eligible Class Members.
In order to participate, class members are reportedly required to complete and return a Proof of Claim form (“Proof of Claim”), listing their Core Bond Fund share purchases, sales, dividend income, and dividend reinvestments between April 30, 2007 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 settlement is fair, reasonable, and adequate.
For more information on the Oppenheimer Core Bond Fund class action lawsuit settlement, visit the In Re: Oppenheimer Core Bond Fund class action settlement website:
www.oppenheimercoresettlement.com
If You Have Thoughts About The Oppenheimer Core Bond Fund Class Action Settlement, Share Your Settlement Thoughts Below.
My settlement was less tha $10. I want it. It is just plain wrong to hold back on all the people who have less than $10 settlements. I bet that adds up to quite a bundle. How much is it?
I lost 350K. I got a check for $294. Oppenheimer promised me 50K settlement amount. What a debacle.
And Richard Mercier, the fool who managed my retirement, wanted to keep me invested in Oppenheimer.
Unspeakable.