Oppenheimer Core Bond Fund

Napoli Bern Ripka LLP is continuing its investigation of fraudulent activity of the Oppenheimer Core Bond Funds.

We have completed our investigation into the Oppenheimer Champion Income Fund (OCHBX, OPCHX and OCHCX) and the Oppenheimer Core Bond Fund (OPIGX) Fund and plan on filing FINRA arbitrations to recover investment losses in the Funds for fraud and the failure to disclose the material risks of the Fund. Unknown to most investors, the Funds invested in extraordinarily risky derivatives that were highly illiquid. None of these risks were properly disclosed to investors. According to the findings of our investigation, the Funds were touted as a conservative.

As a result of Oppenheimer's misrepresentations, many investors who thought they were purchasing a safe high income fund, instead have suffered losses of approximately 80% in 2008.The Core Bond Fund has suffered 35% in losses. The Champion Fund dropped a 55% in November of 2008 alone. For calendar year 2008, Champion Income has lost 79.1%, the second worst loss for any peer group fund.

Oppenheimer Champion Income Fund failed to make meaningful disclosures regarding the risks of the fund and instead used boilerplate language that did not fully disclose the risk associated with the fund.

If you suffered losses in these funds, we can help.