Cooperman Says ‘I Won't Let These People Destroy My Legacy’
- Addresses SEC allegations in conference call with investors
- Earlier issued five-page letter to clients denying wrongdoing
Leon Cooperman Denies SEC Insider Trading Charges
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Omega Advisors founder Leon Cooperman told clients he plans to fight insider trading charges and refused an opportunity to settle the case.
“It took me 50 years of hard work and playing by the rules to get where I got and I’m not going to let these people destroy my legacy,” Cooperman said on a conference call Wednesday with the firm’s clients. “We could have settled this matter with the SEC for an amount which is far less than what I donate to charity every year, but I refuse to do so because of my belief that we acted appropriately and lawfully.”