Mr. Cooperman’s lawyers, Daniel Kramer and Theodore Wells at Paul Weiss, said in a statement, “We<br />and our clients are very pleased with this outcome, which speaks for itself.”<br />In the lawsuit, regulators contended that Mr. Cooperman had misused his position as one of the biggest shareholders in Atlas Pipeline Partners to gain confidential<br />information from an unidentified executive at the company about the sale of one of its gas-processing facilities to another energy company in July 2010.<br />Leon Cooperman’s Hedge Fund Settles Insider Trading Case -<br />By MATTHEW GOLDSTEINMAY 18, 2017<br />When securities regulators sued the hedge fund manager Leon G. Cooperman last year, accusing<br />him of violating insider trading laws, he vowed to fight to the bitter end.<br />Stephanie Avakian, acting enforcement director at the agency, said on Thursday<br />that the “settlement protects against future violations while requiring Cooperman and Omega Advisors to pay significant fines for their misconduct.”<br />She noted that the settlement requires Omega to retain an outside consultant to monitor trading activity until 2022.<br />In September, when the Securities and Exchange Commission filed its lawsuit, Mr. Cooperman<br />told his investors, “I’m not going to let these people destroy my legacy.”<br />But it may well be that he is holding his tongue until the settlement is formally approved.
