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Oppenheimer AMT-FREE Municipals Fund Investor Class Action Lawsuit 05/21/2009

 

If you purchased shares of Oppenheimer AMT-FREE Municipals Fund A, B, and C (NASDAQ: OPTAX) (NASDAQ: OTFBX) (NASDAQ: OMFCX) from May 13, 2006 through October 21, 2008 you have certain options and there are strict and short deadlines running. Deadline: July 13, 2009. You should contact the Shareholders Foundation, Inc immediately!

You may contact us by using this form, or by sending an email to mail@shareholdersfoundation.com, or calling us at (858) 779-1554.

Company Name(s): 
Oppenheimer Holdings
Case Name: 
Oppenheimer AMT-FREE Municipals Fund Investor Class Action Lawsuit 05/21/2009
Case Status: 
Lawsuit Filed
Affected Securities
MUTF: OPTAX
MUTF: OTFBX
MUTF: OMFCX
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Class Period Begin: 
05/13/2006
Class Period End: 
12/21/2008
Court of Filing: 
U.S. District Court for the District of New Jersey
Deadline To File for Lead: 
07/13/2009
Summary: 

An investor in a Oppenheimer AMT-FREE Municipals Fund has filed a proposed securities class action lawsuit in the United States District Court for the District of New Jersey on behalf of persons who purchased shares of Oppenheimer AMT-FREE Municipals Fund A, B, and C (NASDAQ: OPTAX) (NASDAQ: OTFBX) (NASDAQ: OMFCX) from May 13, 2006 through October 21, 2008 against Oppenheimer Funds, Inc and others over alleged violations of Federal Securities Laws.

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 Fund. These undisclosed risks are alleged to have been the cause of a severe decline in the value of the Fund's shares, far exceeding the decline of competing municipal bond funds.