Lee Cooperman has settled insider trading charges with the Securities and Exchange Commission for $4.9 million, the Financial Times is reporting.
ADVERTISEMENT
Hedge fund manager Lee Cooperman has settled with the government
Lee Cooperman has settled insider trading charges with the Securities and Exchange Commission for $4.9 million,
Last year, Cooperman, the founder of Omega Advisors, was charged with insider trading. He had said that he intended to fight the charges.
Under the settlement, Cooperman is neither admitting nor denying wrongdoing, and will not be banned from managing money, the FT reported.
In an email to Business Insider, Cooperman declined to comment on the settlement.
ADVERTISEMENT
As part of the settlement, Omega must retain an on-site independent compliance consultant until at 2022, the SEC said in a statement.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Here's everything to know about being a virgin on your wedding night
7 do's and don’ts of the Holy month of Ramadan
Top 5 sweetest celebrity mother-child relationships that stand out for us
International Women's Day: 5 Nigerian female celebrities championing women’s rights
Top 5 female directors in Nollywood
6 things that will break a Muslim's fast during Ramadan
5 benefits of fasting during Ramadan
5 reasons Easter was more fun when we were children
Dos and don’ts of supporting Muslims during Ramadan
ADVERTISEMENT