SOURCE: Brower Piven, A Professional Corporation

April 25, 2009 02:00 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Oppenheimer Core Bond Fund to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the June 22, 2009 Lead Plaintiff Deadline

BALTIMORE, MD--(Marketwire - April 25, 2009) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the District of Colorado on behalf of investors of the Oppenheimer Core Bond Fund (NASDAQ: OPBYX) (NASDAQ: OPIGX) (NASDAQ: OIGBX) (NASDAQ: OPBCX) (NASDAQ: OPBNX). No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than June 22, 2009 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You may contact Brower Piven (through hoffman@browerpiven.com or 410/986-0036) to answer any questions you may have in that regard.

The complaint accuses the defendants of violations of the Federal securities laws, including violations of the Securities Act of 1933 by virtue of the Fund's failure to disclose in its prospectus and registrations statements ("Offering Documents") that the Fund was not adhering to its overall conservative strategy and investment objectives and was taking risks inconsistent with such strategy and objectives. According to the complaint, as the Fund's deviation from its conservative investment strategy and objectives became known, the value of the Oppenheimer Core Bond Fund's shares declined significantly.

If you have suffered a net loss for all transactions in Oppenheimer Core Bond Fund directly, or believe you may have been invested in the Fund through your 529 plan or your retirement plan, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410-986-0036, or at Brower Piven, A Professional Corporation, The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Baltimore, Maryland
    410/986-0036
    Email Contact