OppenheimerFunds, Inc. Reaches Proposed Settlement on Core Bond Fund and Champion Income Fund
NEW YORK, May 20, 2011 /PRNewswire/ -- OppenheimerFunds, Inc. today announced that proposed settlements have been filed in two consolidated class action law suits relating to Oppenheimer Core Bond Fund and Oppenheimer Champion Income Fund that are pending in the federal district court in Colorado.
The parties in the cases are seeking preliminary approval of settlement agreements by the court so that information about the proposed settlements may be sent out to class members. OppenheimerFunds entered into these proposed settlement agreements to avoid a lengthy and expensive legal process, and in doing so has not admitted any wrongdoing in the matters raised in the law suits. OppenheimerFunds believes that that proposed settlements are in the best interest of shareholders of the Funds and are pleased to be moving toward a resolution of these matters.
About OppenheimerFunds, Inc.
OppenheimerFunds, Inc. is one of the nation's largest and most respected investment management companies. As of March 31, 2011, OppenheimerFunds, Inc., including subsidiaries, managed more than $185 billion in assets, including mutual funds having approximately 11 million shareholder accounts, including sub-accounts. Known for its tagline The Right Way to Invest, OppenheimerFunds, Inc. has been helping investors reach their financial goals since 1960. The Company and its controlled affiliates offer a broad range of products and services to individuals, corporations and institutions, including mutual funds, separately managed accounts, investment management for institutions, qualified retirement plans and sub advisory investment-management services.
Shares of Oppenheimer funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.
Before investing in any of the Oppenheimer funds, investors should carefully consider a fund's investment objectives, risks, charges and expenses. Fund prospectuses and, if available, summary prospectuses contain this and other information about the funds. You may download and view a prospectus now, or to obtain one, ask your financial advisor or call OppenheimerFunds Distributor, Inc. at 1.800.CALL OPP (225.5677). Read prospectuses and, if available, summary prospectuses carefully before investing.
OppenheimerFunds are distributed by OppenheimerFunds Distributor, Inc. Two World Financial Center, 225 Liberty Street, New York, NY, 10281
SOURCE OppenheimerFunds, Inc.
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