Cooperman, Omega Pen $4.9M Insider Trading Deal With SEC

Law360, Los Angeles (May 18, 2017, 7:47 PM EDT) -- Omega Advisors Inc. and its billionaire founder Leon Cooperman reached a $4.9 million deal in the U.S. Securities and Exchange Commission’s insider trading case that the hedge fund investor had called “untested,” according to a consent order that lets Cooperman continue working in the securities industry.

The SEC had accused Cooperman of filching insider information from an Atlas Pipeline Partners LP executive and trading on it even though he allegedly made a commitment not to, court records show, and Cooperman was in the process of taking...
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Case Information

Case Title

SECURITIES AND EXCHANGE COMMISSION v. COOPERMAN et al


Case Number

2:16-cv-05043

Court

Pennsylvania Eastern

Nature of Suit

Other Statutes: Securities/Commodities

Judge

JUAN R. SANCHEZ

Date Filed

September 21, 2016

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