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This excerpt taken from the OPY 8-K filed Mar 11, 2009. Explanatory Note The original filing included an incorrect reference to Class B non-voting share in the press release attached as Exhibit 99.1 thereto. The Class B shares are Class B voting shares. A corrected press release appears as an exhibit hereto.
This excerpt taken from the OPY 8-K filed Nov 13, 2007. EXPLANATORY NOTE The Registrant is filing this Amendment to its Current Report on Form 8-K to correct an error it made in reporting the transaction disclosed herein under Section 1, Item 1.10 of Form 8-K it its original filing on November 5, 2007.
This excerpt taken from the OPY 8-K filed Apr 7, 2006. EXPLANATORY NOTE On January 17, 2003, Oppenheimer Holdings Inc. (formerly called Fahnestock Viner Holdings Inc.) (the “Company”) filed a Current Report on Form 8-K (the “January 17th 8-K”) reporting the acquisition of certain assets of the U.S Private Client Division (the “Private Client Division”) of CIBC World Markets Corp. (“World Markets”), a wholly-owned subsidiary of Canadian Imperial Bank of Commerce (“CIBC”), and the agreement to acquire certain assets of the U.S. Asset Management Division (the “Asset Management Division” and together with the Private Client Division, the “Purchased Divisions”) of World Markets at a later date. The sole purpose of this amendment is to provide the pro forma financial information for the years ended December 31, 2001 and 2002 as required by Item 9.01(b) of Form 8-K. As permitted by Item 9.01(b) of Form 8-K, the January 17th 8-K omitted the pro forma financial information, and indicated that such financial information would be provided within 60 days of such filing. The Company was unable to produce the information within that timeframe, and is submitting herewith the required pro forma financial statements. The Company has been informed by World Markets that the historical financial information of the Purchased Divisions for the year ended October 31, 2000 is not available and is not expected to become available. The Company does not believe that the pro forma financial information contained herein is indicative either of the actual results that would have occurred if the acquisitions had been consummated at the beginning of the periods presented or of future operations of the combined companies due to the effect of internal accounting and corporate allocations at World Markets, the effect of different fiscal periods (October versus December), and the change in the operation of the businesses by the Company subsequent to the consummation of the acquisitions. The pro form information is for comparative purposes only as required by applicable SEC Rules.
Item 9.01. Financial Statements and Exhibits. (b) Pro forma financial information
(c ) Exhibits. None
3 This excerpt taken from the OPY 10-K filed Feb 28, 2005. EXPLANATORY NOTE
This Amendment No. 1 to our Annual Report on Form 10-K is being filed to amend and reflect the restatement of our Consolidated Financial Statements as of December 31, 2003. The Company discovered an error in the calculation of interest expense related to its first and second variable rate exchangeable debentures. The Company expensed actual interest on these debentures at the rate of 3% in 2003 and 4% in the first three quarters of 2004. Instead, the Company should have used the "interest method," which requires that the effective interest expense that will be incurred over the life of increasing rate debt instruments be expensed, which would have resulted in the use of an effective annual interest rate of 4.5% on the exchangeable debentures in all periods. The error resulted in the understatement of the liabilities, interest expense and total expenses and the overstatement of profit before income taxes and net profit for the year ended December 31, 2003. In addition, the Company has corrected other immaterial items relating to the allowance for doubtful accounts, litigation reserves, accrued compensation and prepaid expenses. As a result of the restatement, the amount of the formula-based C.E.O. compensation has been recomputed. The overpayment is being repaid in 2005. The Company has restated its Consolidated Balance Sheets, Consolidated Statements of Operations, Consolidated Statements of Cash Flows and Consolidated Statements of Shareholders’ Equity as well as Notes 1, 2, 7, 10, 11, 16, and 18 of Notes to Consolidated Financial Statements for 2003 to reflect the restatement for the matters described above. See Note 1(p) of Notes to Consolidated Financial Statements for further discussion. In accordance with the rules of the Securities and Exchange Commission, the affected items of the Form 10-K, Items 6, 7 and 8 of Part II and Item 11 of Part III are being amended and restated in their entirety. Except as described above, no other amendments are being made to the Form 10-K. This Form 10-K/A does not reflect events occurring after March 11, 2004 or substantively modify or update the disclosure contained in the From 10-K in any way other than as required to reflect the amendments discussed above. 1 ____________________________________________________________________ TABLE OF CONTENTS
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