Pimco Advisors announced Wednesday that it has agreed to settle a class action filed in connection with its acquisition of Oppenheimer Capital.

Pimco, a mutual fund management company, said it would pay $15.4 million to "individuals associated with Oppenheimer" who alleged various breaches of fiduciary duty, conflicts of interest, and unfair dealing in connection with the firm's sale. A spokesman for Pimco declined to elaborate.

The settlement is subject to court approval in early 1998.

Pimco completed its purchase of Oppenheimer on Dec. 1 by buying a remaining two-thirds stake in the firm for roughly $800 million, the spokesman said.

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