Settlement Amount:
$70,000,000 fund; pro rata share based on a Notional Claim calculation
Claim Deadline:
September 17, 2026
Proof Required:
A completed, signed claim form with adequate supporting documentation for the transactions reported
Official Settlement Website:
OppenheimerCashSweepLitigation.com
📄 Full claim guide: Read the complete Oppenheimer cash sweep settlement breakdown on OpenClassActions.com for eligibility details, payout tiers, and step-by-step filing instructions.
What Is the Case About?
The lawsuit alleged Oppenheimer paid participants in its Advantage Bank Deposit (ABD) Program lower interest rates on their swept cash than it was obligated to pay. Oppenheimer denies all allegations of wrongdoing, liability, or damages and says it is settling solely to eliminate the uncertainty, burden, and expense of further litigation.
Who Qualifies?
The class includes customers of Oppenheimer & Co. Inc. or Oppenheimer Asset Management Inc. who participated in the Advantage Bank Deposit Program from March 17, 2022 through May 22, 2026. Oppenheimer, its officers, directors, their families, and controlled entities are excluded.
How Much Can You Get?
Each valid claimant receives a pro rata share of the $70 million settlement fund, calculated from a Notional Claim based on the transactions reported. There is no fixed per-person amount.
How to File
Submit a claim form online or by mail postmarked by September 17, 2026. Claim forms must be properly completed, signed, and accompanied by adequate supporting documentation for the transactions reported.
Key Deadlines
- Exclusion / objection deadline: August 27, 2026
- Final approval hearing: September 17, 2026 at 4:00 p.m. ET (Courtroom 14B, S.D.N.Y.)
Case Details
| Case Name | Liberty Capital Group v. Oppenheimer & Co. Inc. |
| Case Number | 1:25-cv-04822-JSR |
| Court | U.S. District Court, Southern District of New York |
| Administrator | Verita Global |
| Settlement Amount | $70,000,000 |
File / Check Official Settlement Site
→ See the full Oppenheimer cash sweep settlement details on OpenClassActions.com
By Felix Levine. OpenClassActions.org is a consumer news and information site and is not a class action administrator, class counsel, or a law firm. This page summarizes a public class action settlement and is general information, not legal advice. Deadlines and payment timing may change — always verify details at the official settlement website before filing. Class action claim forms are submitted under penalty of perjury; submit only truthful information.