Och-Ziff’s $28.8M Foreign Bribery Settlement Gets Final OK

Och-Ziff Capital Management Group LLC‘s $28.8 million settlement with shareholders received final court approval Jan. 16.

The class action accused Och-Ziff of concealing illegal bribes made to foreign leaders—including the son of former Libyan leader Muammar Gaddafi—in its efforts to secure financing for African mining ventures and other activities. These alleged bribes, which led to a $412 million settlement with the Securities and Exchange Commission, caused Och-Ziff stock to fall by more than 13 percent when they came to light, investors claimed.

The settlement, which covers owners of Och-Ziff shares from February 2012 to April 2014, provides an average ...