HAGENS BERMAN

Date Filed: August 12, 2009
Court: U.S. District Court
Location: California
Ticker Symbol: OPBCX

Hagens Berman Sobol Shapiro filed a lawsuit against OppenheimerFunds, Inc. and OppenheimerFunds Distributor, Inc. claiming the company violated federal securities laws and breached their fiduciary duty to investors regarding the Core Bond Fund. Affected funds include (NASDAQ:OPBCX, NASDAQ:OIGBX, NASDAQ:OPBYX, NASDAQ:OPBNX and NASDAQ:OPIGX).

The lawsuit claims the officers and directors of the Core Bond Fund misled investors about the safety of the fund and failed to adequately warn investors when the fund took extreme risks in violation of the Fund's stated investment policy.

In the fiscal year ending 2008, the Core Bond Fund suffered losses of more than 35 percent of its value and continued to fall another 10 percent in the first three months of 2009.

If you are aware of facts relating to this investigation, or purchased shares of Oppenheimer's Core Bond Fund you can participate in this class action or contact attorneys at oppenheimer@hbsslaw.com.