Och-Ziff Doubles Reserve to $414 Million to Settle ProbeBy
Company in talks with partners to commit up to $500 million
The shares rally 12% on news, the most since February
Och-Ziff Capital Management Group LLC, the hedge fund firm run by Daniel Och, more than doubled the money it’s setting aside for a settlement with U.S. authorities and is in talks to raise capital from partners to help cover the cost. Shares rallied.
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