Billionaire hedge fund manager Leon Cooperman lambasted regulators as “abusive” after he settled his insider trading case with the U.S. Securities and Exchange Commission earlier this month.
The founder of Omega Advisors told CNBC Tuesday that he would have won had the case gone to trial, but that he was advised to settle because the trial would have cost him $15 to $20 million and last two to three years. Instead, he agreed to pay a $4.9 million fine.
‘Enforcement 40’ for 2020
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