BREAKING STORY stay tuned for analysis also see below SEC Charges Hedge Fund Manager Leon Cooperman With Insider Trading
Also see Lee Cooperman Updates Investors On SEC Subpoena
And more background here on the supeona
Washington D.C., Sept. 21, 2016 —
The Securities and Exchange Commission today charged hedge fund manager Leon Cooperman and his firm Omega Advisors with insider trading based on material nonpublic information he learned in confidence from a corporate executive.
The SEC alleges that Cooperman generated substantial illicit profits by purchasing securities in Atlas Pipeline Partners (APL) in advance of the sale of its natural gas processing facility in Elk City, Oklahoma. Cooperman allegedly used his status as one of APL’s largest shareholders to gain access to...
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