SEC charges ex-Oppenheimer fund manager with misleading investors
WASHINGTON (Reuters) - U.S. securities regulators charged a former private equity fund manager at Oppenheimer Holdings Inc's Oppenheimer & #$%$ Tuesday with misleading investors about the valuation and performance of some funds.
The Securities and Exchange Commission claimed that Brian Williamson, 42, disseminated quarterly reports and marketing materials that essentially overstated the value of Oppenheimer's fund holdings and performance figures.
I personally think their $5 price target on AUDC is also misleading investors since the stock is now north of $6.00. Perhaps Oppenheimer is telling investors to short AUDC and lose money. This will only amount in more lawsuits and bad advice.