Oppenheimer & Co. $70M Advantage Bank Deposit Program Settlement
Who Is Eligible?
You may be eligible to file a claim if you:
- You held a brokerage or investment account with Oppenheimer & Co.
- Your uninvested cash was swept into the Advantage Bank Deposit Program during the relevant time period covered by the lawsuit
- You were a retail or individual investor (specific account types covered may be confirmed once full settlement details are released)
- You are a U.S. resident who was an Oppenheimer account holder during the class period (exact dates pending)
How Much Can You Get?
The total settlement fund is $70 million, which will be distributed among eligible class members. Individual payout amounts have not yet been publicly specified — your share will likely depend on factors such as how much cash you had swept into the Advantage Bank Deposit Program and for how long. Once the settlement administrator releases the official distribution formula, we will update this page with estimated per-person amounts. Keep in mind that attorney fees and administrative costs are typically deducted from the total fund before distribution to claimants.How to File Your Claim
Filing your claim is quick and easy:
- Check whether you held an Oppenheimer & Co. brokerage account and had funds in the Advantage Bank Deposit Program
- Gather any account statements or records from Oppenheimer that show your cash sweep activity — these may be needed to support your claim
- Wait for the official claim form to be released by the settlement administrator (we will link it here as soon as it's available)
- Complete and submit the claim form before the deadline — details are pending but will be posted here once confirmed
- Download Class Action Buddy to get notified the moment this claim opens, track your submission, and discover other settlements you may qualify for
💡 Easier way: File with Class Action Buddy
Skip the paperwork. Our app auto-fills your claim form with your saved profile and submits it electronically in under 2 minutes.
Download for iPhone Download for AndroidFrequently Asked Questions
What is the deadline to file a claim for the Oppenheimer & Co. $70M Advantage Bank Deposit Program Settlement?
The current deadline to file a claim is Sep 17, 2026. Note: claims sent by mail must be postmarked by this date, and Class Action Buddy ships claim forms with a 7-day mailing buffer to ensure on-time delivery.
Do I need proof of purchase for the Oppenheimer & Co. $70M Advantage Bank Deposit Program Settlement?
Yes — this settlement requires proof of purchase. Acceptable proof typically includes receipts, credit card statements, photos of the product, or order confirmation emails. Check the official claim form for specifics.
How do I file a claim for the Oppenheimer & Co. $70M Advantage Bank Deposit Program Settlement?
You have two options: (1) Use the free Class Action Buddy mobile app — set up your profile once and the app auto-fills the PDF claim form, captures your signature, and submits the claim by mail on your behalf. (2) File directly with the settlement administrator using the official claim form linked on this page.
What is the Oppenheimer Advantage Bank Deposit Program lawsuit about?
This class action lawsuit claims that Oppenheimer & Co. did not properly compensate clients whose uninvested cash was placed into its Advantage Bank Deposit Program — a type of cash sweep account. The lawsuit alleges the firm may have benefited financially at clients' expense by placing their cash in low-interest bank deposits. Oppenheimer agreed to a $70 million settlement to resolve these claims without admitting wrongdoing.
How do I know if I qualify for the Oppenheimer cash sweep settlement?
You likely qualify if you had a brokerage account with Oppenheimer & Co. and your uninvested cash was automatically swept into the Advantage Bank Deposit Program during the class period. The exact eligibility dates haven't been publicly confirmed yet, so check back here for updates or download Class Action Buddy to get notified when full details are released.
Do I need proof to file a claim in the Oppenheimer settlement?
It's not yet confirmed what documentation will be required, but it's a good idea to locate any old Oppenheimer account statements that show your cash sweep history. Having records on hand will make the claims process easier once the official form is released. Class Action Buddy can help you keep track of what you need.
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