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Oppenheimer Hit With Inaccurate Data Charges

Law360 (January 9, 2006, 12:00 AM EST) -- For the second time in eight months, The National Association of Securities Dealers has filed a complaint against broker Oppenheimer & Co. and its CEO Albert Lowenthal, alleging that the firm knowingly reported inaccurate data in response to an NASD probe about mutual fund discounts.

“Today's matter is especially troubling not only because of the firm's repeated lack of cooperation with NASD, but more significantly because, as stated in the complaint, the CEO himself allegedly directed the firm to provide NASD with information that he knew...
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