| 2017-05-18 17:17:19|
ATLS 17:17 05/18 05/18/17
Leon Cooperman's Omega Advisors settles with SEC, Dow Jones says
According to previous reports, the SEC had alleged that Leon Cooperman of Omega Advisors traded on insider information he acquired on Atlas Partners. According to reports form 2016, the SEC alleged that Cooperman obtained illegal and non-public information tied to Atlas Pipeline Partners which would later be part of a merger between Atlas Energy and the midstream oil and gas subsidiary to form Atlas Energy Group. At the time of the original charges, an SEC spokesperson said, "We allege that hedge fund manager Cooperman, who as a large APL shareholder obtained access to confidential corporate information, abused that access by trading on this information." According to Thursday's Dow Jones report, Cooperman is looking forward to putting this behind him. Cooperman will not be subject to industry suspension, according to the report.