According to the law firm press release, Och-Ziff Capital Management Group LLC ("Och-Ziff" or the Company) is a publicly owned investment management company that was founded in 1994 and is based New York with additional offices in London, United Kingdom; Hong Kong; Tokyo, Japan; Bangalore, India; and Beijing, China.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, and failed to disclose material adverse facts about the Company's business, operations, prospects and performance. Specifically, during the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company violated relevant anti-bribery laws by accepting an investment from the Libyan Investment Authority, a sovereign wealth fund; (ii) the Company loaned $234 million to help finance two ventures in the Democratic Republic of Congo in violation of the Foreign Corrupt Practices Act ("FCPA"); (iii) beginning in 2011, the Company received subpoenas from the Securities and Exchange Commission ("SEC") and the United States Department of Justice ("DOJ") in connection with the transactions mentioned above; and (iv) as a result of the above, the Company's financial statements were materially false and misleading at all relevant times.

On February 3, 2014, the Wall Street Journal ("WSJ") reported that the DOJ joined a widening investigation of banks, private-equity firms and hedge funds, including Och-Ziff, relating to the possible violation of anti-bribery laws in their dealings with Libya's government-run investment fund. The article also stated that the criminal investigation by the DOJ was proceeding alongside a civil probe by the SEC that began in 2011.

On the news, Och-Ziff stock fell $0.87, or 6.7%, to close at $12.08 on heavy volume.

On April 27, 2014, the WSJ published an article providing details about the Och-Ziff investments in Africa under investigation by the SEC and DOJ. The article stated that the probe centered on two loans totaling $234 million, to companies controlled by a controversial mining executive, which helped finance two ventures in the Democratic Republic of Congo involving properties that were the subject of ownership disputes.

On this news, shares in Och-Ziff fell $1.28, or almost 10%, on heavy trading volume, to close at $11.65 on April 28, 2014.

On September 24, 2014, the Court issued an Order appointing Lead Plaintiff and approving Lead Counsel. Lead Plaintiffs filed a consolidated Complaint on November 24. On February 17, 2016, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

An amended Complaint was filed on November 18, 2016. Defendants filed a Motion to Dismiss the amended Complaint on January 11, 2017. On September 29, 2017, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

On October 1, 2018, the parties entered into a Stipulation of Settlement. The Court granted preliminary approval of the Settlement on October 3. On January 16, 2019, the Court granted final approval of the Settlement and entered Final Judgment. On January 24, the Court issued a revised Final Order and Judgment. The Court issued an Order granting Distribution of the Settlement funds on August 30.