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Oppenheimer New Jersey Municipal Fund (MUTF: ONJAX) (MUTF: ONJBX) (MUTF: ONJCX) Investor Securities Class Action Lawsuit 04/24/2009

  • 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.

  • 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

Company
Oppenheimer Holdings Inc.
Security

Case Name
Oppenheimer New Jersey Municipal Fund Shareholder Class Action Lawsuit 04/24/2009
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of New Jersey

Class Period Begin
Class Period End
Deadline To File for Lead
Settlement Notice
oppenheimer_funds_inc_settlement_notice_5_2014.pdf
Settlement Proof
oppenheimer_funds_inc_settlement_proof_5_2014.pdf
Filed Complaint
oppenheimer_funds_inc_original_filing_edited_4_2009.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$3,374,000.00
Deadline to Participate in Settlement

You must register to view and download the Settlement Notice and Settlement Proof.

Summary

March 12, 2014 - The court preliminarily approved the settlement.

March 5, 2014 - A stipulation of settlement was filed by the parties.

January 15, 2010 - An amended consolidated complaint was filed.

November 18, 2009 - The lead plaintiff and lead counsel were appointed in each of the 6 actions in the multi-district case.

August 7, 2009 - Additional and renewed lead plaintiff motions were filed.

July 13, 2009 - Additional lead plaintiff motions were filed.

July 7, 2009 - The court ordered all cases transferred to the U.S. District Court for District of Colorado and consolidated into a multi-district case.June 16, 2009 - An additional investor filed a complaint.

April 24, 2009 - An investor in shares of the Oppenheimer New Jersey Municipal Fund (MUTF: ONJAX) (MUTF: ONJBX) (MUTF: ONJCX) 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 April 24, 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 Municipals Fund. These undisclosed risks are alleged to have been the cause of a severe decline in the value of the Oppenheimer AMT-FREE Municipals Fund's shares, far exceeding the decline of competing municipal bond funds.

oppenheimer_funds_inc_original_filing_edited_4_2009.pdf
Date Settled