July 12, 2017
OppenheimerFunds Inc. has agreed to pay almost $51 million to settle allegations that it invested in junk bonds and risky derivatives despite claiming to focus on investment-grade municipal bonds, ending long-running multidistrict litigation after a separate $90 million settlement and a trip to the Tenth Circuit.
December 09, 2015
The Tenth Circuit on Tuesday declined to review a decision granting certification to a class of investors alleging OppenheimerFunds Inc. invested money in its California mutual bond fund in junk bonds, rejecting arguments that certification will force settlement of the investors' claims.
October 16, 2015
A Colorado federal judge on Friday granted certification to a class of investor plaintiffs who allege OppenheimerFunds Inc.'s California municipal bond fund actually invested in junk bonds and risky derivatives during the financial crisis, the only class not to settle in the sprawling suit.
August 29, 2013
OppenheimerFunds Inc. has reached a $89.5 million settlement in six consolidated class actions over funds it allegedly invested in junk bonds and risky derivatives despite claiming to focus on investment-grade municipal bonds during the peak of the financial crisis, it said Thursday.
January 19, 2012
A federal judge in Colorado on Wednesday denied Massachusetts Mutual Life Insurance Co.'s request for reconsideration of an earlier ruling that required the insurer to remain a defendant in multidistrict litigation against its OppenheimerFunds Inc. unit.
October 24, 2011
A Colorado federal judge on Monday refused to toss multidistrict securities litigation alleging several OppenheimerFunds Inc. mutual funds misled investors by claiming to make secure investment choices while actually employing risky investment strategies.