Law360, Los Angeles (May 8, 2014, 4:42 PM EDT) -- Och-Ziff Capital Management Group LLC was hit with a securities class action Monday in New York federal court accusing it of selling stock at artificially inflated prices by not disclosing Foreign Corrupt Practices Act investigations over $234 million in loans involving Congo oil and mining ventures.
While the hedge fund revealed in an annual securities report in March that it was under investigation by the U.S. Securities and Exchange Commission and the U.S. Department of Justice, previous securities filings didn't detail two deals that allegedly violated the FCPA.
The class action — which also names Och-Ziff founder, chairman and CEO Daniel...
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