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OppenheimerFunds and Oregon settle for $20 million

(November 20, 2009) - OppenheimerFunds has settled for $20 million in a lawsuit filed by the state of Oregon over losses incurred in the state's 529 college savings program. The settlement funds will be spread, based on a formula, among as many as 45,000 participants who had accounts at least partially invested in the OppenheimerFunds Core Bond Fund during 2008.

Additional information is contained in press releases from the Office of the State Treasurer and from OppenheimerFunds.

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