Embattled Ozy Media Hit With First Investor Lawsuit Over Faked Fundraising Call

In the first of what may well become a string of lawsuits against embattled Ozy Media, a fund manager that invested in the site accused it of fraud and asked for compensatory and punitive damages in a jury trial. LifeLine Legacy Holdings of Beverly Hills, Calif., which put more than $2 million into the company co-founded and led by Carlos Watson, claimed in a lawsuit that Ozy had “engaged in fraudulent, deceptive and illegal conduct” when the firm was considering early this year whether or not to invest.