Ozy Media is accused in a lawsuit of ‘fraudulent conduct’

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A fund management company that invested more than $2 million in Ozy Media filed a lawsuit on Monday claiming Ozy “engaged in fraudulent, deceptive and illegal conduct.”

The lawsuit, filed by LifeLine Legacy Holdings of Beverly Hills, California, represents the latest challenge for Ozy, which was backed by a bevy of high-profile investors and announced on Friday that it had shut down after its business practices and leadership had come under scrutiny.

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