Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed against Och-Ziff Capital Management Group LLC (“Och-Ziff” or “Company”) (NYSE: OZM) and several officers and directors for acts taken during the period of February 9, 2012 to April 25, 2014 (the “Class Period”).
Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of Och-Ziff. If you are an affected Och-Ziff shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
In the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants issued false and misleading statements and/or failed to disclose that a) the Company accepted an investment from the Libyan Investment Authority, a sovereign wealth fund, which violates relevant anti-bribery laws; b) the Company violated the Foreign corrupt Practices Act by loaning $234 million to assist two ventures in the Democratic Republic of Congo; c) beginning in 2011, the Company received subpoenas from the Securities and Exchange Commission and the United States Department of Justice in connection with the transactions mentioned above; and d) due to the above, the Company’s financial statements were materially false and misleading at all relevant times. According to the complaint, when the above was disclosed Och-Ziff stock dropped.