Cooperman Says Omega’s Assets Fell to $4 Billion Amid Case
- Hedge fund manager says he’s prepared to run firm at a loss
- Says rejected SEC offer of about $8 million to settle the case
Cooperman: Firm Has Shed $3 Billion Since SEC Case
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Leon Cooperman, the hedge-fund manager accused of insider trading, said Tuesday that his Omega Advisors Inc. will continue investing money for clients even as its assets have dropped to $4 billion.
"I have to make adjustments in the team but I’m prepared to run the business at a loss," Cooperman said in an interview with Bloomberg Television. "We’re not retiring, we’re not sending back the money."