Notice to All Investors in the Oppenheimer AMT-Free Municipals Fund From the Securities Law Firm of Tramont Guerra & Nunez, PA
27 June 2009 - 8:00AM
Marketwired
The Securities Law Firm of Tramont Guerra & N��ez, PA (TGN)
makes an announcement to all Investors of the Oppenheimer AMT-FREE
Municipals Fund ("Fund") concerning the class action lawsuit (Case
No. 09 CV 02279) which was filed on May, 13, 2009, in the United
States District Court for the District of New Jersey. The class
action lawsuit was filed on behalf of investors in the Fund which
were available in multiple mutual fund share classes including;
A-shares (NASDAQ: OPTAX), B-shares (NASDAQ: OTFBX), and C-shares
(NASDAQ: OMFCX). The class action lawsuit alleges that plaintiffs
"purchased shares of the Fund issued pursuant to a prospectus which
failed to disclose the relevant risk factors." Specifically, the
prospectus failed to disclose the risks associated with "inverse
floater agreements." These agreements forced the Fund to "rapidly
sell large blocks of securities held in its portfolio" at "prices
far below the values at which the bonds were carried on its books."
Prospective class members should consider whether an individual
securities arbitration claim filed with the Financial Industry
Regulatory Authority, (FINRA) is more effective than a class action
for recovery of their investment losses.
Many investors were advised by their financial advisors that an
investment in the Fund was suitable for risk adverse investors to
provide current income. Brokerage firms are obligated to give, and
investors are entitled to rely upon, brokerage firms for competent,
suitable investment advice in accordance with the FINRA Sales
Practice Rules and Regulations. Recommendations of unsuitable
investments and/or concentrated investments in the financial sector
are both sales practice violations which form the basis of a
securities arbitration claim filed with FINRA should an investor
sustain damages (losses) as a result.
The Securities Law Firm of Tramont Guerra & N��ez, PA, is a
nationally recognized, Martindale Hubbell "AV" rated securities law
firm. To request a confidential consultation from a TGN attorney to
assist you in determining whether you have a viable individual
claim for investment losses that exceed $100,000 from a full
service brokerage account, contact us on our website. To speak
directly with an attorney, call (800) 578-0137 and ask for David
Chacin, Esquire.
Destination URL
http://www.stockmarketlosslawyer.com/press-releases/class-action-lawsuits-oppamt.htm
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Contact: David Chacin, Esquire 2100 Ponce De Leon Blvd,
Penthouse II Coral Gables, Florida 33431 (800) 578-0137 Email
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