Is the Oppenheimer Champion Income Fund class action right for you? If you have not taken the required steps to opt out of this Fund, you may automatically be included in the Fund, thereby losing your rights to pursue an individualized direct claim against Oppenheimer for losses you have sustained.
The financial crisis of September 2008 saw a number of large, supposedly income-oriented mutual funds lose considerable value. For example, the value of the Oppenheimer Champion Income Fund declined well in excess of 90% due to the heavy exposure of the Fund to risky and highly-leveraged mortgage-backed securities.
Additionally, brokerage firms responsible for loading their clients up with this Fund have been faulted for lax due diligence, excessive concentration of the Fund in customer accounts and failure to timely intervene to sell the Fund to prevent the hundreds of millions of dollars in losses which were sustained by unsuspecting investors.
We offer a free initial consultation to investors in the Oppenheimer Champion Income Fund.