$70M Oppenheimer & Co. ABDP cash sweep class action settlement
Who qualifies
The class action settlement benefits Oppenheimer and Oppenheimer Asset Management customers who participated in the Advantage Bank Deposit Program from March 17, 2022, through May 22, 2026.
Where: Nationwide / see notice
Proof needed
Investment records or broker contact information
About this settlement
Oppenheimer & Co. has agreed to a $70 million class action settlement to resolve claims it violated New York law by failing to pay its Advantage Bank Deposit Program (ABDP) participants the interest they were owed. The Oppenheimer settlement benefits Oppenheimer customers or Oppenheimer Asset Management Inc. customers who participated in the Advantage Bank Deposit Program from March 17, 2022, through May 22, 2026. The Advantage Bank Deposit Program is a cash sweep program that allows eligible Oppenheimer clients to earn interest on their cash balances. According to the class action lawsuit, O…
Details
- Case
- Liberty Capital Group v. Oppenheimer & Co. Inc., et al ., Case No. 1:25-cv-04822-JSR, in the U.S. District Court for the Southern District of New York
- Administrator
- Oppenheimer Cash Sweep Litigation c/o Verita Global
- Settlement fund
- $70M
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- Fees & Billing
Settlement Owl is a discovery tool, not a law firm or settlement administrator. Eligibility is decided solely by the official class definition — confirm every detail on the official settlement website before filing. Payout figures are estimates set by the settlement and may be reduced pro rata.