Securities Lawsuit Filed Against Oppenheimer Global Resource Private Equity Fund

Cincinnati, OH: A securities class action lawsuit has been filed against Oppenheimer Global Resource Private Equity Fund I, L.P. and others ("OGRPE Fund"). The complaint is pending in the United States District Court for the District of Massachusetts.

The action alleges defendants violated Sections 12 (a)(2) and/or 15 of the Securities Act of 1933 and rules promulgated thereunder by the Securities and Exchange Commission ("EC"). Specifically, the lawsuit asserts that the OGRPE Fund solicitation documents overstated the value of the fund' holdings as well as its profitability and financial performance due to a failure of the OGRPE Fund' procedures and in violation of applicable laws and standards.

The Wall Street Journal reported on February 24, 2012 that the United States Attorney' Office for the District of Massachusetts, the SEC, and the Massachusetts Attorney General' Office have been investigating the OGRPE Fund and subpoenaing employees, focusing on whether the fund has been incorrectly valuing its investments.

Oppenheimer Global Resource Private Equity Fund Securities Class Action Legal Help

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Published on Apr-16-12