Analysis

SEC’s Cooperman Deal Gives Defense Bar New Tool

Law360, New York (May 19, 2017, 8:43 PM EDT) -- Billionaire hedge fund founder Leon Cooperman and his firm Omega Advisors Inc. managed to avoid an industry bar in settling the U.S. Securities and Exchange Commission’s insider trading claims, and experts say their unusual compromise of retaining a compliance consultant gives the defense bar ammunition for negotiating future deals.

Although the SEC reportedly sought to suspend Cooperman from the securities industry for a period of time in settlement talks before it first brought the case last September, the agency ultimately agreed to let the trader and...
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