Oppenheimer PE Fund Accused Of Misleading Investors

Law360, New York (March 27, 2012, 2:41 PM EDT) -- A Massachusetts pension fund filed a putative class action in federal court Monday against an Oppenheimer Holdings Inc. private fund, accusing the fund of misleading investors about the value of its investment in another private equity firm.

The Brockton Retirement Board, which manages the pensions of current and former employees of the city of Brockton, Mass., said that Oppenheimer Global Resource Private Equity Fund I LP, or OGR, made material misstatements about its due diligence process in offering documents and failed to inform investors of potential...
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