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Leon Cooperman asks for insider trading case to be dismissed

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Leon Cooperman, the hedge-fund legend accused by the U.S. Securities and Exchange Commission of insider trading, asked for its lawsuit to be dismissed, saying the regulator had revised its allegations after his lawyers had argued that he wasn’t bound by a duty not to trade on an insider’s information about a deal.

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Leon Cooperman asks for insider trading case to be dismissed

Leon Cooperman, the hedge-fund legend accused by the U.S. Securities and Exchange Commission of insider trading, asked for its lawsuit to be dismissed, saying the regulator had revised its allegations after his lawyers had argued that he wasn’t bound by a duty not to trade on an insider’s information about a deal.