Oppenheimer To Retain Valuation Firm In PE Fund Fraud Deal

Law360, New York (April 16, 2013, 1:57 PM EDT) -- A private equity fund managed by Oppenheimer & Co. has agreed to retain a third-party valuation consultation to review its investments as part of an agreement in Massachusetts federal court to settle class action claims of performance fraud by a local pension fund, according to documents filed Friday.

The settlement between the Brockton Retirement Board and Oppenheimer Global Resource Private Equity Fund I LP (OGR) comes on top of a $2.8 million settlement agreement between the investment firm and the U.S. Securities and Exchange Commission in...
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