Earlier today, the Securities and Exchange Commission charged resident angryoldman Leon Cooperman with insider trading, based on material non-public information he obtained about Atlas Pipeline Partners. It also threw in that upon receiving a subpoena re: his trading activity, Cooperman "contacted [an APL] executive and tried to fabricate a story to tell if questioned" by regulators. Perhaps not entirely surprisingly-- generally people accused of these sorts of things don't come out and say "Yep, you nailed it"-- Cooperman has huffily repudiated the allegations. Also, he's really disappointed in the SEC, which may or may not sting.
Billionaire hedge fund manager Leon Cooperman denied insider trading charges against him and his firm Wednesday, saying he would vigorously defend against the accusations. "We have done nothing improper and categorically deny" the Securities and Exchange Commission charges, the Omega Advisors chairman and CEO told investors in a letter. "Needless to say, we are highly disappointed with the Commission's decision to file charges, and we strongly disagree with the Commission that either the firm or I have engaged in any unlawful conduct," Cooperman wrote.