Have you or your loved ones invested in Oppenheimer Global Resource Private Equity Fund LP ?
According to the Wall Street Journal and other business press, the U.S. Attorneys office, the SEC and the Massachusetts Attorney General are probing whether this private equity fund that was part of Oppenheimer Holdings Inc overstated the value of its holdings. According to the WSJ, the overestimation reached as much as $4 million and came in 2009 at a time when the fund was trying solicit new investors. The overestimation resulted in reporting an internal rate of return of 38% compared to a loss of over 6% in the prior period.
The fund, which makes investments of its own and also invests in other private equity funds, thereafter raised $55 million from individuals and institutions based upon what appears to be inaccurate and overstated performance results.
If you purchased this investment you may have claims for damages for misrepresentation and other causes of action. If you have questions about your rights please do not hesitate to contact us.
Robert H. Rex, Esq. been helping investors recover investment losses for over twenty years. We represent clients nationwide.
Contact us at 561 391 1900 or visit our website for more information.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.