NEW YORK (Reuters) - Och-Ziff Capital Management Group was a subject of a regulatory probe surrounding Lehman Brothers' 2008 collapse but the investigation went "nowhere," a lawyer for the fund company said on Wednesday.
The investigation by the Securities and Exchange Commission has "gone nowhere because there is nothing," attorney Kenneth Bressler told a Bankruptcy Court judge in New York.
Lehman has argued that Och-Ziff is stonewalling its efforts to subpoena information related to its failure, and wants the bankruptcy court to force the hedge fund firm to comply. The judge did not rule on the issue during the hearing.
Och-Ziff contends that Lehman's request is unwarranted and would require it to spend $3.3 million to produce millions of electronic documents.
Bressler said in court that the SEC, in its probe two years ago, also asked for records related to trading in Morgan Stanley
The broad-reaching SEC investigation targeted most major hedge funds and sought information on their trading activities, particularly around shorting strategies, Bressler said.
(Reporting by Caroline Humer; Writing by Martha Graybow; Editing by Richard Chang, Phil Berlowitz)
