Skip to Content


Zamansky LLC warns investors in the Oppenheimer Champion Income Fund (”Champion Fund”) that the deadline for opting out of the settlement is August 31, 2011. The settlement for investors is reportedly $52.5 million, or approximately three ($.03) cents on the dollar. Investors who accept the settlement agree to release all claims they have against their broker or financial advisor who sold them the Champion Fund. If any investor does not opt out, he or she will lose their rights to bring a potentially valuable legal claim in arbitration before FINRA against the broker or financial advisor who sold him or her the Champion Fund.

The Oppenheimer Champion Fund was sold and marketed to investors as sa afe and secure income investment for elderly or retired investors who desired an income return while conserving principal.  Unbeknownst to investors, the Champion Fund invested in mortgage-backed securities, credit default swaps and other risky derivatives causing a loss of over 80% of the Fund’s value. The financial advisors and brokers who sold the Champion Fund to investors had due diligence obligations to “know the security” they sold to investors, and were required to have a “reasonable basis” for recommending the security. Thus, Champion Fund investors may have valid legal claims against their financial advisors or brokers where the recovery potentially far exceeds the three-cent settlement. Nonetheless, these claims are lost on August 3, 2011, if the investor does not notify the court that it is opting out of the settlement.

If you would an evaluation of your potential claim against the broker or financial advisor who sold you the Champion Fund, please contact Jake Zamansky at (212) 742-1414, or email at Zamansky LLC has obtained successful recoveries for numerous clients in cases involving the Oppenheimer Champion Fund and other unsuitable funds and securities.

Client Reviews

“Jake Zamasky and his colleagues represented me in a FINRA arbitration case against a large multinational bank and succeeded in obtaining an award for the full amount of my investment losses. I would highly recommend the Zamansky firm for their experience in securities litigation, their level of detailed research and case preparation, and their ability to effectively fight for what’s right.”

Richard R.

“Throughout my entire case, Jake Zamansky was incredibly responsive and spent time walking me through each step of the process. He is professional and worked with my challenging schedule, even meeting with me nights and on weekends. He knew exactly which turn to take when it came to my case and yet was respectful of any decisions I wanted to make resulting in a positive outcome.”

Donald A.

“Jake Zamansky and his firm represented me in a FINRA arbitration case to recover investment losses. Jake and his team were very professional and worked very hard preparing for trial and then reaching a substantial settlement of our case. I would highly recommend them.”

William E.

“Jake Zamansky represented me in a FINRA arbitration case which allowed me to recover a substantial portion of investment losses. He is truly an expert in this space and I would highly recommend him to those investors who may have been been a victim of investment fraud.”

Chris K.

“Jake and his team did a great job communicating with me throughout the process of my lawsuit. I would recommend him to anyone looking to sue UBS for unethical practices.”

Mike A.
View More