18 unchanged sentences
Accordingly, the Company's estimate will change from time to time, and actual losses may be more than the current estimate.
−Removed: Beginning on or about August 31, 2021, Oppenheimer was named as a respondent in fifty one arbitrations, many containing multiple claimants, each filed before FINRA, relating to those claimants’ purported investment in Horizon Private Equity, III, LLC (“Horizon”).
+Added: Beginning on or about August 31, 2021, Oppenheimer was named as a respondent in numerous arbitrations, many containing multiple claimants, each filed before FINRA, relating to those claimants’ purported investment in Horizon Private Equity, III, LLC (“Horizon”).
Horizon is alleged to be a fraudulent scheme involving, among others, a former Oppenheimer employee, John Woods.
−Removed: Oppenheimer has settled, or settled in principle, or an award has been rendered in forty-nine of the Horizon-related arbitrations.
−Removed: The two arbitrations still pending claim specific monetary damages and allege losses of approximately $3.8 million in the aggregate.
−Removed: On June 16, 2023, Oppenheimer was served with a complaint in an action entitled John and Cynthia Kearney, John & Tera Sargent, Mike Hall et al v.
−Removed: Oppenheimer & Co.
−Removed: Inc., et al, filed in Georgia State Court, Fulton County.
−Removed: Plaintiffs allege that Oppenheimer, through its inaction and/or misconduct, is responsible for their alleged losses and are seeking unspecified damages alleging in violations of the Georgia RICO statute and negligence per se.
−Removed: Oppenheimer filed a motion to dismiss the complaint.
−Removed: On April 17, 2024 the court issued an order granting plaintiffs John and Tera Sargent’s voluntary dismissal of their
−Removed: claims without prejudice.
−Removed: On April 22, 2024, the court granted Oppenheimer’s motion to dismiss and terminated the case.
−Removed: On April 26, 2024, plaintiffs filed a notice of appeal of the court’s order dismissing the case.
−Removed: Additionally, on August 25, 2023, Oppenheimer was served with a complaint in an action entitled Lisa Wright, Billy Ray Boaz, et al v.
−Removed: Oppenheimer & Co.
−Removed: Inc., et al, filed in Georgia State Court, Fulton County.
−Removed: Plaintiffs allege that Oppenheimer, through its inaction and/or misconduct, is responsible for their alleged losses and are seeking unspecified damages alleging in violations of the Georgia RICO statute and negligence per se.
−Removed: On October 31, 2023, Oppenheimer filed a motion to dismiss the complaint.
−Removed: On April 22, 2024, the court granted Oppenheimer’s motion to dismiss and terminated the case.
−Removed: On April 26, 2024, plaintiffs filed a notice of appeal of the court’s order dismissing the case.
−Removed: On June 30, 2022, the Oppenheimer received a "Wells Notice" from the SEC requesting that Oppenheimer make a written submission to the SEC to explain why Oppenheimer should not be charged with violations of Section 15c2-12 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Rule 15c2-12 thereunder as well as Municipal Securities Rulemaking Board Rules G-17 and G-27 in relation to its sales of municipal notes pursuant to an exemption from continuing disclosure contained in Rule 15c2-12.
+Added: John Woods left Oppenheimer’s employ in 2016 and Oppenheimer never received a complaint from any of the investors prior to the SEC bringing a complaint against Woods and his co-conspirators in 2021.
+Added: Oppenheimer has settled or an award has been rendered and paid in all the Horizon-related arbitrations except for two arbitrations which allege losses of approximately $2.75 million in the aggregate.
+Added: In addition, in June and August of 2023, Oppenheimer was served with two Horizon-related complaints in Georgia State Court, by plaintiffs, virtually all of whom were never Oppenheimer customers, alleging unspecified losses.
+Added: In 2024, each of those complaints was dismissed by the trial court.
+Added: Plaintiffs in each case subsequently filed an appeal of the court’s order dismissing the cases, each of which is currently pending.
+Added: On June 30, 2022, Oppenheimer received a "Wells Notice" from the SEC requesting that Oppenheimer make a written submission to the SEC to explain why Oppenheimer should not be charged with violations of Section 15c2-12 of the Securities Exchange Act of 1934, and Rule 15c2-12 thereunder as well as Municipal Securities Rulemaking Board Rules G-17 and G-27 in relation to its sales of municipal notes pursuant to an exemption from continuing disclosure contained in Rule 15c2-12.
On September 13, 2022, the SEC filed a complaint against Oppenheimer in the United States District Court for the Southern District of New York (the “Court") alleging that Oppenheimer violated Section 15B(c)(1) of the Exchange Act and Rule 15c2-12 thereunder as well as Municipal Securities Rulemaking Board Rules.
2 unchanged sentences
The settlement is subject to Oppenheimer obtaining a waiver of certain statutory disqualifications.
−Removed: During the three months ended June 30, 2024, there were no material changes to the information contained in Part I, Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2023.
+Added: During the three months ended September 30, 2024, there were no material changes to the information contained in Part I, Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2023.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.