Hedge-fund manager Leon Cooperman paid $4.9 million to settle insider-trading charges in an unusual deal with securities regulators in which he didn’t admit wrongdoing but agreed that his firm’s trades will be monitored for five years.
The settlement between the Securities and Exchange Commission and Cooperman’s firm Omega Advisors ends standoff in which 74-year-old Cooperman had remained defiant in TV interviews about the case, insisting that he was innocent and that he would never pay a fine the SEC.
‘Enforcement 40’ for 2020
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