Bloomberg Law Brief: SEC Charges Leon Cooperman (Audio)

Erik Gordon, a professor at the University of Michigan Ross School of Business and Michigan Law School, and Richard Painter, a Professor at the University of Minnesota Law School, discuss the insider trading allegations against Leon Cooperman, in which the Securities and Exchange Commission accuses Cooperman of using his status as a major shareholder in Atlas Pipeline Partners to earn $4 million before the sale of a company asset in 2010. Cooperman's firm, Omega Advisors, currently has $5.4 billion in assets under management, but that is already starting to fall as investors pull out of the firm, deciding to leave before Cooperman's case goes to trial. They speak with Bloomberg Law host June Grasso on Bloomberg Radio's "Bloomberg Law." Bloomberg's Karen Moskow and John Tucker report the day's top legal stories.