A lawsuit filed by Dan Och and other former executives of Sculptor Capital Management, has been branded as “misleading and full of falsehoods” by the New York-based hedge fund, which formerly operated as Och-Ziff Capital Management.
The suit, filed in Delaware Chancery Court on Wednesday, is seeking access to documents related to current Sculptor CEO Jimmy Levin’s compensation. But in a statement issued on Thursday, Scupltor said it presents a “a grossly distorted view of board governance at the company. We look forward to setting the record straight through the legal process.”
Och and the other form Sculptor execs are questioning the independence of Sculptor’s board, and allege that Levin has been awarded “ever-escalating pay packages” totalling $145.8 million last year.