Mealeys

Mealey's Securities/D&O Liability - Och-Ziff To Settle Securities Class Action Suit For More Than $28M

NEW YORK - Asset management firm Och-Ziff Capital Management Group LLC and certain of its executive officers and others will pay $28.75 million to settle securities claims brought by investors who alleged that the defendant misrepresented its role in a Securities and Exchange Commission and U.S. Department of Justice investigation into Och-Ziff's investments into three African countries, according to a motion for preliminary approval of settlement filed by lead plaintiffs on Oct. 2 in New York federal court (Arthur Menaldi v. Och-Ziff Capital Management Group LLC, et al., No. 14-3251, S.D. N.Y.).