DENVER--(BUSINESS WIRE)--The Shuman Law Firm announces that it is investigating potential claims against certain officers and directors of Och-Ziff Capital Management Group LLC (“Och-Ziff” or the “Company”) (NYSE: OZM). Och-Ziff is a New York, NY-based publicly owned hedge fund sponsor.
The Firm’s investigation relates to whether certain current and/or former senior officers and directors breached their fiduciary duties to the Company. Specifically, the Firm is investigating potential claims based on alleged Foreign Corrupt Practices Act (“FCPA”) violations which allegedly occurred at the Company from 2007 through 2014. On May 3, 2016, the Company announced that it had set aside $200 million as it negotiates with the U.S. government over this bribery investigation. The Wall Street Journal recently reported that federal authorities had been pushing for Och-Ziff to plead guilty to criminal charges and to pay $400 million in civil penalties over the alleged bribery. Och-Ziff and certain senior officers and directors also were named as defendants in a class action lawsuit over similar bribery allegations in the U.S. District Court for the District of New York. In February 2016, the U.S. District Court denied the defendants motion to dismiss, in part, and the case is now proceeding towards trial. Over the past calendar year, Och-Ziff common stock has fallen from trading in the $12 per share range in June 2015 to less than $4.00 per share as of June 27, 2016.
If you currently own Och-Ziff common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 569-4531 or by email at kip@shumanlawfirm.com or rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in stockholder litigation.