A group of shareholders has filed a class action in federal court against Och-Ziff Capital Management Group, its CEO Daniel Och, and CFO Joel Frank, Courthouse News Service’s Securities Law Review reports.
The complaint, filed in the Southern District Court in New York, alleges that the investment management company’s financial statements between February 2012 and April 2014 were materially false and misleading. Following a plummet in Och-Ziff’s share price, many shareholders suffered significant losses and damages, according to the complaint.
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