STEVENSON, Md., June 27, 2014 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Och-Ziff Capital Management Group LLC ("Och-Ziff" or the "Company") (NYSE:OZM) securities during the period between February 9, 2012 and April 25, 2014, inclusive (the "Class Period").
If you have suffered a loss from investment in Och-Ziff securities purchased on or after February 9, 2012 and held through the revelation of negative information during and/or at the end of the Class Period, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or financial obligation, click here: http://www.browerpiven.com/securitiesfraudcases.html.
You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. Attorneys at Brower Piven together have more than a century of experience litigating securities and other class action cases.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than July 7, 2014 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that the Company violated relevant anti-bribery laws by accepting an investment from the Libyan Investment Authority, a sovereign wealth fund and violated the Foreign Corrupt Practices Act when it loaned $234 million to help finance ventures in the Democratic Republic of Congo. According to the complaint, following the February 3, 2014 announcement that Och-Ziff was part of a widening Department of Justice investigation of banks, private-equity firms, and hedge funds, relating to the possible violation of anti-bribery laws in their dealings with Libya's government-run investment fund, the value of Och-Ziff shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.