March 20 A federal judge on Monday rejected
billionaire investor Leon Cooperman's bid to dismiss the U.S.
Securities and Exchange Commission's insider trading case
against him and his firm, Omega Advisors Inc.
Without ruling on the merits, U.S. District Judge Juan
Sanchez in Philadelphia said the SEC had "pleaded a plausible
claim for insider trading."
The judge also dismissed SEC claims that Cooperman failed to
file required reports about his stakes in eight companies.
Omega did not immediately respond to requests for comment.
(Reporting by Jonathan Stempel in New York; Editing by Jonathan