It’s possible to look at the Security and Exchange Commission’s recent complaint against hedge fund legend Lee Cooperman, founder of Omega Capital, from several standpoints. But perhaps the most important is the strong tone and clear verbiage the SEC used in describing multiple counts against Cooperman. Juxtapose this to the period in history when the alleged infractions occurred – 2010 – is to recognize a different attitude towards Wall Street crime investigations may be upon us.
Cooperman, for his part, “is highly disappointed” in the SEC filing charges, he told investors in a letter sent today and reviewed by ValueWalk. He believes “information is not a crime,” and the timely additions to the portfolio – Cooperman was on the phone...
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