Private Equity Firm Faces Class Actions Over IPO

Law360, New York (November 30, 2007, 12:00 AM EST) -- Shareholders are starting to circle around Pzena Investment Management Inc. with lawsuits over the New York money manager's alleged failure to disclose an outflow of investment in one of the largest mutual funds under its control.

Law firm Brower Piven announced on Thursday that it had filed a class action in the U.S. District Court for the Southern District of New York against Pzena over its Oct. 24 initial public offering, which allegedly failed to disclose net redemptions that led to a drop in the company's...
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