SEC Files Insider Trading Case Against Leon Cooperman

Bloomberg Video

Sept. 23 -- The SEC has filed insider trading charges against Omega Advisors founder Leon Cooperman. The SEC charges that Cooperman used his status as one of Atlas Pipeline Partners’ largest shareholders to gain access to confidential information from a company executive. He earned substantial illicit profits by buying securities in Atlas before the sale of a

company asset in 2010, which caused shares to jump 31 percent, the SEC said. Billionaire Leon Cooperman told investors neither he nor his hedge fund Omega Advisors engaged in any unlawful conduct. Bloomberg's Matt Robinson explains.

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