NEW YORK, April 28, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Och-Ziff Capital Management Group LLC ("Och-Ziff Capital" or the "Company") (NYSE: OZM) (CUSIP: 67551U105). Investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Och-Ziff Capital and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On March 19, 2014, Och-Ziff Capital disclosed that the Securities and Exchange Commission ("SEC") and the U.S. Department of Justice were investigating the Company for potential violations of the Foreign Corrupt Practices Act and related laws, and that the probe centered on some of its Funds investments in companies in Africa. Och-Ziff Capital made loans to companies controlled by a controversial mining executive that helped finance two ventures in the Democratic Republic of Congo. On this news, shares of Och-Ziff Capital fell $0.49, or 3.50%, to close at $13.71 per share March 19, 2014, on unusually heavy trading volume.
On Sunday, April 27, 2014, the Wall Street Journal published an article detailing the controversial African oil and mining deals. On this news, shares of Och-Ziff Capital fell $1.31, or more than 10.05%, on intraday trading on April 28, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP