Cooperman Had Long, Often Costly Alliance With Cohen Family Two companies Cooperman invested in lost 80 percent of value Cohens were paid $137.5 million for running Atlas spinoff Leon Cooperman, accused Wednesday of buying shares in Atlas Pipeline Partners after obtaining insider information, has been investing with the family that managed the company for more than a decade. It hasn’t always paid off. Cooperman, 73, and his son Wayne bought stakes in at least five companies controlled or managed by Ed Cohen and his sons Jonathan and Daniel since 2000, including Atlas Resource Partners LP, Atlas Energy Group LLC, Resource America Inc. and Institutional Financial Markets Inc. Some have lost money for investors -- in two cases, more than 80 percent of their value on public exchanges. Led by septuagenarian patriarch Ed Cohen, who has a penchant for speaking in Latin on earnings calls, the family has run small businesses spanning natural gas, banking and real estate. The Coopermans have often been among their biggest investors. “Atlas Pipeline was one of several companies controlled by the Cohen family, a number of whose members I had known for many years,” the elder Cooperman wrote in a letter to shareholders of his $5.4 billion hedge fund, Omega Advisors, hours after he was accused of insider trading by the U.S. Securities and Exchange Commission. Cooperman also said in the letter that he and his firm hadn’t engaged in any unlawful conduct. “We haven’t spoken for a year because of litigation,” Cooperman said in an e-mail Wednesday on his relations with the Cohens. “You’re not allowed to talk.” Wayne Cooperman didn’t return a phone call or respond to an e-mail. Matt Barkett, a spokesman for the Cohens’ companies at Dix & Eaton, said he wasn’t immediately able to provide a comment. Confidential Information ... http://www.bloomberg.com/news/artic...g-often-costly-relationship-with-cohen-family
they don't apply. e.g. "your answer is prototypical of a snake oil salesman. " i attacked his action not the person. it is like disciplining a child. you can say to the kid you are acting like a clown but you denigrate him when you say he is a clown. it is a difference which we shall see if you can comprehend.
Seriously, you say "it is a difference which we shall see if you can comprehend." to me, something clearly meant to denigrate my intelligence (it certainly wasn't intended as a kind word), and then ride your high horse as the poor victim of ad hominem attacks. Again, you're apparently blind to your ability to dish it out but not take it! I could do a better job of not stooping to personal attacks and I'll try to do better going forward. Will you agree with me to do the same or will you remain in denial?
Unbelieveable! In this very string you stated "instead of attacking the article or the subject you attack me." I'm going to let the facts stand for themselves here, there's no point in continuing a conversation with someone who denies what they typed in black and white just minutes ago.
it is a statement of fact not a complaint. some people have difficulty differentiating between the two.
You know while reviewing your posts to provide you examples of your behavior I did notice that you intersperse insightful, useful comments along with bizarre denial of obvious, verifiable facts. It occurs to me that this, combined with your age and the constant denial, might point to (potentially undiagnosed) alzheimer's or dementia. With that in mind, good on you for staying engaged and sharp in forums like this and I'll try to ignore the bad days and look for the gems. I'm pulling for the latest amyloid plaque reduction drugs like aducanumab, hopefully we'll soon be looking at a cure!
from letter to his shareholders: Although we don’t think it would be productive to state here our views on what we believe to be a seriously misguided effort by the authorities in these matters, we would refer anyone who is interested to Three Felonies a Day: How the Feds Target the Innocent by Harvey A. Silverglate and Licensed to Lie: Exposing Corruption in the Department of Justice by Sidney Powell, both of which provide fascinating insights into the machinations of our country’s criminal justice system. While we cannot discuss all the specifics of these matters as they are ongoing, we believe it is important for us to provide you with some basic facts concerning the Commission’s charges. Omega Advisors Inc. 11431 W. Palmetto Park Road Boca Raton, Florida 33428 Tel: 561-852-2565 810 Seventh Avenue | 33 rd Floor New York, New York 10019 Tel: 212-495-5200 | Fax: 212-495-5236 <http://fortune.com/2016/09/21/leon-cooperman-letter-insider-trading/>
That Bloomberg article certainly puts a different light on this case. 'position of trust and confidence' vs 'manager-shareholder relationship' How are they ever supposed to prove that type of thing? Whichever side has the slickest talking lawyers I guess.
yes, the main witness has a vested interest in telling his story. if he doesnt, then its him who is liable for regulation FD violations. I imagine Copperman defense will go pretty hard on that, as well as point out the failed Cuban litigation