Summary
Securities fraud claim survives motion to dismiss by alleging that municipal fund managers used Level 3 (unobservable) inputs to value highly risky derivative instead of the observable inputs (actual sales date), as promised in fund disclosures.
In re Oppenheimer Rochester Funds Group Securities Litigation
PDF, Size: 133 KB
See Also
‘Level 3’ Valuations Are Not Shielded by Business Judgment Rule
Securities fraud claim survives motion to dismiss by alleging that municipal fund managers used Level 3 (unobservable) inputs to value highly risky derivative instead of the observable inputs (actual sales date), as promised in fund disclosures.