Block & Leviton LLP Files a Securities Class Action Today Against Oppenheimer Global Resource Private Equity Fund I, L.P.

BOSTON, March 26, 2012 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, filed a securities class action lawsuit today against Oppenheimer Global Resource Private Equity Fund I, L.P. (the "OGR Fund") and others.  The lawsuit, captioned Brockton Retirement Board v. Oppenheimer Global Resource Private Equity Fund I, L.P., et al. Case No. 1:12-cv-10552 is pending in the United States District Court for the District of Massachusetts.  To obtain a copy of the complaint, contact Block & Leviton LLP.

The lawsuit alleges violations of United States securities laws on behalf of the OGR Fund's investors since its inception in July, 2008.  The lawsuit alleges that the OGR Fund and others violated Sections 12(a)(2) and/or 15 of the Securities Act of 1933 and the rules promulgated thereunder by the Securities and Exchange Commission ("SEC").   

The complaint asserts that the solicitation documents used to entice investments in the OGR Fund (the "Solicitation Materials") contained materially untrue and misleading statements regarding:  (i) the purported value of the OGR Fund's holdings, (ii) the profitability and performance of the OGR Fund, and (iii) the policies and procedures to be used by the OGR Fund in conducting due diligence into the performance and valuation of its assets.  Specifically, the Solicitation Documents overstated the value of the OGR Fund's holdings as well as the OGR Fund's profitability and financial performance due to a failure of the OGR Fund's procedures and in violation of applicable laws and standards.

On February 24, 2012, an article in The Wall Street Journal reported that the United States Attorney's Office for the District of Massachusetts, the SEC and the Massachusetts Attorney General's Office have been investigating the OGR Fund since the fall of 2011, sending multiple subpoenas to the OGR Fund's employees.  The investigations have focused on whether the OGR Fund has been incorrectly valuing its investments.

If you are a member of the Class, you may, no later than May 25, 2012, request that the court appoint you as Lead Plaintiff for the Class. You may contact the attorneys at Block & Leviton to discuss your rights in the case.  You may also retain counsel of your choice and you need not take any action at this time to be a class member.

Block & Leviton is a Boston-based law firm representing investors for violations of securities laws.  The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years.

Contact: BLOCK & LEVITON LLP
Jason Leviton
[email protected]
(617) 389-5600

SOURCE Block & Leviton LLP

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