Oppenheimer settles cash sweep class action for $70 million

Oppenheimer Holdings Inc. Class A

OPY

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Oppenheimer reached binding term sheet to settle class action over its cash sweep program in US District Court for Southern District of New York.
Settlement calls for USD 70 million payment into escrow 10 business days after preliminary court approval.
Plaintiff indicated it would seek damages above USD 440 million, raising jury-trial risk ahead of scheduled June trial.
Charge for settlement reserve will hit fiscal Q1 2026 earnings, with results due May 1.
Deal requires definitive documentation plus preliminary and final court approval, with no admission of liability.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Oppenheimer Holdings Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: 202604241836PR_NEWS_USPR_____TO43532) on April 24, 2026, and is solely responsible for the information contained therein.

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