Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Och-Ziff Capital Management Group LLC (OZM) To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Och-Ziff Capital Management Group LLC (“Och-Ziff” or the “Company”) (NYSE: OZM) of the July 7, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Och-Ziff and certain executives.
A complaint has been filed in the Southern District of New York on behalf of all persons who purchased Och-Ziff securities between February 9, 2012 and April 25, 2014 (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements, and failed to disclose material adverse facts about the Company’s business, operations, prospects and performance. Specifically, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company violated relevant anti-bribery laws by accepting an investment from the Libyan Investment Authority, a sovereign wealth fund; (ii) the Company loaned $234 million to help finance two ventures in the Democratic Republic of Congo in violation of the Foreign Corrupt Practices Act; (iii) beginning in 2011, the Company received subpoenas from the Securities and Exchange Commission (“SEC”) and the United States Department of Justice (“DOJ”) in connection with the transactions mentioned above; and (iv) as a result of the above, the Company's financial statements were materially false and misleading at all relevant times.
On February 3, 2014, the Wall Street Journal (“WSJ”) reported that DOJ joined a widening investigation of banks, private-equity firms and hedge funds, including Och-Ziff, relating to the possible violation of anti-bribery laws in their dealings with Libya's government-run investment fund. The article also stated that the criminal investigation by the DOJ was proceeding alongside a civil probe by the SEC that began in 2011.
On the news, Och-Ziff stock fell $0.87, or 6.7%, to close at $12.08 on heavy volume.
On April 27, 2014, the WSJ published an article providing details about the Och-Ziff investments in Africa under investigation by the SEC and DOJ. The article stated that the probe centered on two loans totaling $234 million, to companies controlled by a controversial mining executive, which helped finance two ventures in the Democratic Republic of Congo involving properties that were the subject of ownership disputes.
On this news, shares in Och-Ziff fell $1.28, or almost 10%, on heavy trading volume, to close at $11.65 on April 28, 2014.
If you invested in Och-Ziff stock or options between February 9, 2012 and April 25, 2014 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Och-Ziff’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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