Pending court approval, Mr. Cooperman and Omega Advisers would pay $4.9 million and accept five years of monitoring but he could remain in the industry.
Jurors in Manhattan were swayed by an insider trading narrative against William T. Walters, even with a “morally corrupt” witness for the prosecution.
Prosecutors said Mr. Walters made more than $40 million from 2008 to 2104 by realizing profits and avoiding losses based on inside information he received about Dean Foods.
Thomas Davis, testifying in a case against the gambler William Walters that also involves the golfer Phil Mickelson, made an extraordinary admission of malfeasance.
The ousted United States attorney has been criticized as being too harsh and too soft on Wall Street, but he may simply have been a pragmatist.
Posts
