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Oppenheimerfunds Inc

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BUSINESS
September 15, 2005 | From Bloomberg News
OppenheimerFunds Inc., the mutual-fund unit of MassMutual Financial Group, on Wednesday settled charges by federal regulators that it improperly used shareholders' money to pay marketing expenses. The company didn't disclose that, from 2000 to 2003, brokerage firms were paid to promote its funds with trading commissions drawn from fund assets, the Securities and Exchange Commission said.
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BUSINESS
June 30, 2001 | Josh Friedman
Bridget Macaskill, one of the most prominent female executives in the mutual fund industry, was replaced as chairwoman and chief executive at New York-based OppenheimerFunds Inc. John V. Murphy, the firm's president and chief operating officer, was named to succeed Macaskill. Macaskill, who joined Oppenheimer in 1983 and became CEO in 1995, was known as a crusader who worked to encourage women to learn more about investing.
BUSINESS
February 13, 1997 | From Bloomberg News
The U.S. mutual fund industry estimated that $24 billion poured into stock funds during January, the fourth-largest monthly inflow on record, the Investment Company Institute reported Wednesday. The one-month record was set in January 1996, when the trade group's figures showed $28.9 billion flowed into stock funds. Many of America's biggest fund companies, including Vanguard Group, T. Rowe Price Associates Inc., Janus Capital Corp. and OppenheimerFunds Inc.
BUSINESS
March 8, 2007 | From Reuters
Investors who own 46% of Take-Two Interactive Software Inc. unveiled plans Wednesday to take over its board and oust the chief executive, sending shares of the "Grand Theft Auto" video game maker up by as much as 19%. Take-Two management has been under fire for years for a number of issues, including overstating revenue and problems with stock option grants.
BUSINESS
November 15, 2003 | From Bloomberg News
The SEC said Friday that Citigroup Inc. and eight rival Wall Street firms had selected independent consultants as part of a $1.4-billion settlement over biased stock research. The consultants will obtain analysts' reports from independent research firms that don't offer investment banking or brokerage services, and distribute them to clients. The settlement, approved by a federal judge last month, requires the firms to pay $432.5 million to give their clients independent research.
BUSINESS
January 14, 1997 | From Bloomberg News
Investors busily pumped money into U.S. equity mutual funds in the early days of 1997, after slowing their purchases in December amid concern about the market's volatility. Several fund groups, including OppenheimerFunds Inc., Janus Capital Corp. and Charles Schwab & Co., reported Monday that flows so far this month are at or near record rates. For December, the Investment Company Institute estimated that a net $13.5 billion was invested in stock funds, down from $17.11 billion in November.
BUSINESS
October 11, 2005 | From Bloomberg News
NASD said it fined eight brokerages, including U.S. units of Prudential and Lord Abbett & Co., almost $7.8 million for taking kickbacks from mutual funds. Commonwealth Financial Network, Mutual Service Corp., Lincoln Financial Advisors Corp., Lord Abbett Distributor and four Prudential units steered clients into preferred funds in return for payments, NASD said in a statement Monday. In return, the fund firms sent their trading business to the brokerages, the regulator said.
BUSINESS
December 17, 1996 | From Bloomberg Business News
T. Rowe Price Associates Inc. manages the best mix of U.S. stock mutual funds and Capital Research & Management Co. offers the best international funds. At least that's what Morningstar Inc. concludes in a study released this month. The Morningstar report also says that Colonial Management Inc. markets the best taxable bond funds and that Franklin Resources Inc. is the premier municipal bond fund manager in the U.S. Among the losers in the various categories are Merrill Lynch & Co.
BUSINESS
February 3, 1998 | From Bloomberg News
Most women know more about investing than they did five years ago, according to a securities industry executive. The increase accompanies a rise in investing, said Bridget Macaskill, president and chief executive of OppenheimerFunds Inc., citing statistics based on a survey by her firm that showed as many women as men are buying mutual funds.
CALIFORNIA | LOCAL
April 8, 2003 | From Bloomberg
Leon Levy, who founded OppenheimerFunds Inc., the ninth-largest U.S. mutual fund group with more than $120 billion in assets, has died. He was 77. Levy died Sunday at his home in Westchester County, north of New York City, after a series of heart attacks, according to his wife of 20 years, Shelby White. With an investment of $200 that he received in bar mitzvah gifts at the age of 13, Levy amassed a fortune over the years as he built up Oppenheimer and Co.
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