Oppenheimer Rochester Funds Group Securities Litigation

  1. July 12, 2017

    $51M Deal Ends Long-Running Oppenheimer Junk Bond MDL

    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.

  2. December 09, 2015

    10th Circ. Denies Oppenheimer's Junk Bond Class Cert. Appeal

    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.

  3. October 16, 2015

    Last OppenheimerFunds Junk Bond Class Wins Cert.

    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.

  4. August 29, 2013

    Oppenheimer Reaches $90M Deal In Municipal Bond Case

    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.

  5. January 19, 2012

    MassMutual Can't Exit MDL Over Unit's Risky Investments

    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.

  6. October 24, 2011

    Oppenheimer Can't Shake MDL Over Risky Investments

    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.

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