New York-based money manager OppenheimerFunds is the target of both individual investor lawsuits and lawsuits by college savings plans in at least four different states for the mismanagement and losses associated with various bond funds.
Several of the lawsuits concern investments in the Oppenheimer Champion Income Fund, which fell nearly 80% in 2008, and another poor performing fund, the Oppenheimer Core Bond Fund, which lost 41%. Two other OppenheimerFunds are the subject of the state investigations: the Oppenheimer Limited Term Government Fund and the U.S. Government Trust.
If you are an individual or institutional investor and have concerns or questions about your OppenheimerFunds investments, contact Mark Maddox. We can evaluate your situation to determine if you have a claim.