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OppenheimerFunds, Inc.
OppenheimerFunds Responds to Oregon Lawsuit
May 3rd, 2009
OppenheimerFunds, Inc. ("OFI") is very disappointed by the actions of the Oregon Attorney General's Office in filing a lawsuit against it yesterday seeking to recover amounts lost in investments held in the OppenheimerFunds 529 Plan (advisor-sold) and the Oregon College Savings Plan (direct-sold). For the last several months, OFI has cooperated fully with the State of Oregon in its inquiry into OFI's role as program manager for the funds at issue. Despite this cooperation and ongoing dialogue with the State, Oregon proceeded to file its suit without so much as a single meeting with OFI to discuss their concerns or potential solutions. OFI is deeply concerned with the investigative process...
Source: Pharma Investments, Ventures & Law Weekly (2009-05-03)
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