May
18
Leon Cooperman’s Hedge Fund Settles Insider Trading Case
ByWhen securities regulators sued the hedge fund manager Leon G. Cooperman last year, accusing him of violating insider trading laws, he vowed to fight to the bitter end. His decades-long reputation on Wall Street was on the line, he said at the time.
Now, nearly eight months later, he and his firm, Omega Advisors, have agreed to settle, paying just under $5 million in civil penalties and forfeited profits.
But unlike other hedge fund managers who have reached settlements with the Securities and Exchange Commission in insider trading cases, Mr. Cooperman is not admitting any wrongdoing. Significantly, he will not be barred from the securities industry…
Leon Cooperman’s Hedge Fund Settles Insider Trading Case
