The Honorable John L. Kane of the United States District Court for the District of Colorado granted preliminary approval to a settlement in the amount of $52.5 million.
If you purchased or otherwise acquired shares of the Champion Income Fund during the period from Jan. 1, 2006 through Dec. 31, 2008, inclusive, and were allegedly damaged thereby, you may be eligible to recover in this settlement. The claims administrator is presently working to identify class members. If the claims administrator has identified you as a purchaser, you will receive a notice in the mail that explains that you will not need to submit a Proof of Claim form to be eligible to take part in the settlement.
A copy of this notice, titled the Notice of Pendency and Proposed Settlement of Class Action for Identified Purchasers, is available. If the claims administrator has not identified you as a purchaser, you will receive a separate notice in the mail with instructions on how to submit a Proof of Claim form to be eligible to take part in the settlement. A copy of this notice, titled the Notice of Pendency and Proposed Settlement of Class Action for Un-Identified Purchasers is available online. The Proof of Claim form may be accessed by online as well.
The Class alleges that various Oppenheimer entities and certain individual defendants made materially false or misleading statements and omissions to the investing public regarding the investment profile and objectives of the Oppenheimer Champion Income Fund (the "Champion Income Fund") in violation of Sections 11, 12(a)(2), and 15 of the 1933 Act, which had the effect of artificially inflating the price of Core Bond Fund shares.
CASE TIMELINE
On June 1, 2011, the Honorable John L. Kane of the United States District Court for the District of Colorado granted preliminary approval to a settlement in the amount of $52.5 million in the class action In re Oppenheimer Champion Fund Securities Fraud Class Actions, No. 09-cv-525-JLK-KMT.
