Leon Cooperman has the distinction of being the most famous hedge fund manager ever charged with insider trading—putting him in a category that even former SAC Capital honcho Steve Cohen managed to escape. No surprise, Cooperman–notorious for being cheap–also has other legal problems. Cooperman is currently enmeshed in a lawsuit against him and his charitable trust over boardroom shenanigans
that, on the face of it, look pretty dodgy. There’s a lot more to be said on the insider trading front, but for now, take a look at this tale I wrote for Institutional Investor about a group of hedge funds who kicked out two boards and fired their lawyers in an alleged attempt to wrest control of a small company called IPayment.
Michelle Celarier 