OPTAX Oppenheimer Rochester Amt-Free Municipals Class A (MM)

The Securities Law Firm of Tramont Guerra & N��ez, PA (TGN) makes an announcement to all Investors of the Oppenheimer AMT-FREE Municipals Fund ("Fund") concerning the class action lawsuit (Case No. 09 CV 02279) which was filed on May, 13, 2009, in the United States District Court for the District of New Jersey. The class action lawsuit was filed on behalf of investors in the Fund which were available in multiple mutual fund share classes including; A-shares (NASDAQ: OPTAX), B-shares (NASDAQ: OTFBX), and C-shares (NASDAQ: OMFCX). The class action lawsuit alleges that plaintiffs "purchased shares of the Fund issued pursuant to a prospectus which failed to disclose the relevant risk factors." Specifically, the prospectus failed to disclose the risks associated with "inverse floater agreements." These agreements forced the Fund to "rapidly sell large blocks of securities held in its portfolio" at "prices far below the values at which the bonds were carried on its books." Prospective class members should consider whether an individual securities arbitration claim filed with the Financial Industry Regulatory Authority, (FINRA) is more effective than a class action for recovery of their investment losses.

Many investors were advised by their financial advisors that an investment in the Fund was suitable for risk adverse investors to provide current income. Brokerage firms are obligated to give, and investors are entitled to rely upon, brokerage firms for competent, suitable investment advice in accordance with the FINRA Sales Practice Rules and Regulations. Recommendations of unsuitable investments and/or concentrated investments in the financial sector are both sales practice violations which form the basis of a securities arbitration claim filed with FINRA should an investor sustain damages (losses) as a result.

The Securities Law Firm of Tramont Guerra & N��ez, PA, is a nationally recognized, Martindale Hubbell "AV" rated securities law firm. To request a confidential consultation from a TGN attorney to assist you in determining whether you have a viable individual claim for investment losses that exceed $100,000 from a full service brokerage account, contact us on our website. To speak directly with an attorney, call (800) 578-0137 and ask for David Chacin, Esquire.

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Contact: David Chacin, Esquire 2100 Ponce De Leon Blvd, Penthouse II Coral Gables, Florida 33431 (800) 578-0137 Email Contact