Billionaire hedge fund manager Leon Cooperman lambasted regulators as “abusive” after he settled his insider trading case with the Securities and Exchange Commission earlier this month.
The founder of Omega Advisors told CNBC May 30 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.
“My lawyers told me the probability of my winning would be overwhelmingly high,” Cooperman said. “The process in my opinion was ...
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