SOURCE: Stull, Stull & Brody

June 17, 2009 19:45 ET

Stull, Stull & Brody Files Class Action Lawsuit on Behalf of Purchasers of Oppenheimer AMT-FREE Municipals Fund

NEW YORK, NY--(Marketwire - June 17, 2009) - Notice is being given that a class action lawsuit was filed by Stull Stull & Brody in the United States District Court for the District of New Jersey on behalf of persons who purchased shares of Oppenheimer AMT-FREE Municipals Fund ("Oppenheimer AMT" or the "Fund") (NASDAQ: OPTAX) (NASDAQ: OTFBX) (NASDAQ: OMFCX) from May 13, 2006 through October 21, 2008 (the "Class Period"). This action will be transferred for pre-trial proceedings pursuant to an order of the Joint Panel on Multi-District Litigation to the District of Colorado.

The complaint alleges that Oppenheimer Funds, Inc. and certain of its Trustees violated the Securities Act of 1933 by issuing prospectuses which misled investors concerning the risks of investing in the Fund. These undisclosed risks are alleged to have been the cause of a severe decline in the value of the Fund's shares, far exceeding the decline of competing municipal bond funds.

If you wish to serve as lead plaintiff, you must move the Court by no later than July 13, 2009. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent member of the proposed class.

Plaintiff is represented by Stull, Stull & Brody which has extensive experience in securities class action cases. If you would like to discuss this action or if you have any questions concerning this notice or your rights as a potential class member or lead plaintiff, you may contact: Howard T. Longman of Stull Stull & Brody at 1-800-337-4983, or via e-mail at TSVI@AOL.COM or in writing to the aforementioned person and firm at 6 East 45th Street, Suite 500, New York, N.Y. 10017.

Contact Information

  • Contact:
    Howard T. Longman
    Stull, Stull & Brody
    6 East 45th Street
    New York, N.Y. 10017