SEC Says Ex-Oppenheimer Manager Misled Investors

Law360, New York (August 20, 2013, 1:54 PM EDT) -- A former portfolio manager at Oppenheimer & Co. misled investors about the performance of a private equity fund it managed, the U.S. Securities and Exchange Commission said in an order on Tuesday.

The regulator accuses Brian Williamson of giving quarterly reports and marketing materials to prospective investors with inaccurate information about the valuation of the Oppenheimer fund’s holdings between 2009 and 2010. The investment firm paid a $2.8 million in a settlement for related charges in March, but no alleged culprits were named at the time....
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