- Reuters/ Rick Wilking
The Goldman Sachs retirement plan is pulling about $300 million from Leon Cooperman’s Omega Advisors in the wake of insider trading charges, Bloomberg News is reporting. Omega and Cooperman were charged with insider trading last month.
Cooperman confirmed the information with Bloomberg, and said: “Bottom line is that we have done nothing wrong and this will be proven in a court of law. We are disappointed that they couldn’t make an independent decision. They are rewarding the government for bad behavior.”
In a phone message for Business Insider, Cooperman said that Omega “beat every relevant index in the history of the relationship” and that “we are going to win the case because there was no insider trading. I’m very disappointed in Goldman, but that’s life.”
Cooperman has previously vowed to fight the charges, and last month said that the charges were baseless.
Cooperman is a Goldman alum, and spent a quarter of a century there before founding Omega in 1991, according to Omega’s website. He was chairman and CEO of Goldman’s asset management group.