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You must submit the settlement "Proof" form attached below, in order to participate in this settlement. There is a strict deadline of August 28, 2014 by which all claims must be submitted. The instructions for submitting are included in the "Proof" and the "Notice" files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
You must register to view and download the Settlement Notice and Settlement Proof.
March 12, 2014 - The court preliminarily approved the settlement.
March 5, 2014 - A stipulation of settlement was filed by the parties.
January 20, 2012 - The court withdrew the October 25, 2011 order and issued an amended order.
October 25, 2011 - The court granted in part and denied in part the defendants' motion to dismiss.
April 5, 2010 - A motion to dismiss the amended consolidated complaint was filed.
January 15, 2010 - An amended consolidated complaint was filed.
June 17, 2009 - The court ordered all cases transferred to the U.S. District Court for District of Colorado and consolidated into a multi-district case. The multi-district case is comprised of 6 separate actions against Oppenheimer Funds Inc on behalf of investors in the following funds: Oppenheimer AMT-Free Municipals Fund, Oppenheimer AMT-Free New York Municipal Fund, Oppenheimer Rochester National Municipal Fund, Oppenheimer New Jersey Municipal Fund, Oppenheimer Pennsylvania Municipal Fund, and the Rochester Fund Municipals.
May 20, 2009 - An investor in shares of the Oppenheimer AMT-FREE New York Municipal Fund (MUTF: OPNYX) (MUTF: ONYBX) (MUTF: ONYCX) has filed a lawsuit in the U.S. District Court for the District of New Jersey against Oppenheimer Funds Inc over alleged violations of Federal Securities Laws between May 21, 2006 and October 21, 2008.
According to the complaint the plaintiff alleges that Oppenheimer Funds Inc. and certain of its trustees violated the Securities Act of 1933 by issuing prospectuses which misled investors concerning the risks of investing in the Oppenheimer AMT-Free New York Municipal Fund. These undisclosed risks are alleged to have been the cause of a severe decline in the value of the Oppenheimer AMT-Free New York Municipal Fund's shares, far exceeding the decline of competing municipal bond funds.