NEW YORK, NY--(MARKET WIRE)--Apr 11, 2009 -- The Rosen Law Firm, P.A. today announced it has filed a class action lawsuit on behalf of all purchasers of A, B and C shares of Rochester Fund Municipals ("Rochester Fund" or the "Fund") (NASDAQ:RMUNX - News) (NASDAQ:RMUBX - News) (NASDAQ:RMUCX - News) between February 26, 2006 and October 21, 2008, inclusive ("Class Period").

To join the Rochester Fund class action, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY REMAIN AN ABSENT CLASS MEMBER. YOU MAY ALSO RETAIN COUNSEL OF YOUR CHOICE.

The complaint alleges that Rochester Fund, its manager Oppenheimer Funds, Inc. and certain officers and directors violated the federal securities laws by misleading investors about the risks of investing in the Fund. The Complaint asserts that the prospectuses through which shares of the Fund were sold failed to disclose substantial risks concerning Inverse Floaters that the Fund invested in during the Class Period. The Complaint asserts that on October 21, 2008, the Fund filed a Prospectus Supplement that finally disclosed the material and relevant risks concerning the Fund's trading in Inverse Floaters. The Complaint asserts that this adverse disclosure caused the Fund's shares to fall, damaging investors.

A class action lawsuit has already been filed on behalf of Rochester Fund shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than April 27, 2009. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com.

The Rosen Law Firm represents investors throughout the world, focusing its practice in securities class actions and shareholder derivative litigation. Attorney Advertising. Prior results do not guarantee a similar outcome.

     Contact Information:
      
     Laurence Rosen, Esq.
     Email Contact
     Phillip Kim, Esq.
     Email Contact
     The Rosen Law Firm P.A.
     350 5th Avenue, Suite 5508
     New York, New York 10118
     Tel:  (212) 686-1060
     Weekends Tel: (917) 797-4425
     Toll Free: 1-866--767-3653
     Fax: (212) 202-3827
      
     http://www.rosenlegal.com