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Oppenheimer Pennsylvania Municipal Fund (MUTF: OPATX) (MUTF: OPABX) (MUTF: OPACX) Investor Securities Class Action Lawsuit 04/28/2009

  • 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 Pennsylvania Municipal Fund Shareholder Class Action Lawsuit 04/28/2009
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Western District of Pennsylvania

Class Period Begin
Class Period End
Deadline To File for Lead
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$4,341,000.00
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.

March 20, 2013 - The court denied 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.

June 15, 2009 - An additional investor filed a complaint.

June 12, 2009 - Another investor filed a complaint. 

April 28, 2009 - An investor in shares of the Oppenheimer Pennsylvania Municipal Fund (MUTF: OPATX) (MUTF: OPABX) (MUTF: OPACX) has filed a lawsuit in the U.S. District Court for the Western District of Pennsylvania against Oppenheimer Funds Inc over alleged violations of Federal Securities Laws between November 28, 2005 and November 28, 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.

Date Settled