The Securities and Exchange Commission filed charges against two Oppenheimer & Co. investment advisers for misleading investors about the valuation and performance of a private equity fund, Oppenheimer Global Resource Private Equity Fund I L.P. which was marketed from October 2009 until June 2010.
According to the SEC, the largest investment in the fund was Cartesian Investors-A, LLC, which was improperly valued resulting in a material increase in the performance of the Global Resource Fund and causing investors to be misled as to the actual performance of the fund.
Oppenheimer paid $2.8 million in fines and restitution to resolve the matter with the SEC and will pay an additional $132,421 to resolve a related action brought by the Massachusetts Attorney General.
If you have questions about your brokerage account or complaints about losses in the account, contact us to explore your legal rights.
Rex Securities Law , located in Boca Raton, FL, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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