College-Fund Loss Draws Oregon Ire
Oregon officials—stung by steep losses in the Oregon College Savings Plan—are seeking $36.2 million in damages from OppenheimerFunds Inc., which managed a fund responsible for those losses.
The lawsuit filed, in Marion County, Ore., against the Denver-based OppenheimerFunds, includes allegations of negligence, breach of contract, and violations of state securities laws. Officials said in a statement that risky, “hedge-fund like” investments cost the Oppenheimer Core Bond Fund 36 percent of its value last year—and 10 percent more...
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