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OppenheimerFunds and New Mexico settle for $67.3 million

(December 16, 2009) - OppenheimerFunds has agreed to reimburse participants in New Mexico's 529 college savings programs $67.31 million for losses incurred in the program. The settlement funds will be spread among participants who had accounts at least partially invested in the OppenheimerFunds Core Bond Fund during 2008.

The settlement is subject to final approval from the Education Trust Board.

Additional information is contained in press releases from the New Mexico Attorney General and from OppenheimerFunds.

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