2017 Azbee Awards of Excellence

Category

Print > Feature Article - General Interest > Less Than $3 Million Revenue > Northeast

Awarded to

Kip McDaniel, Editorial Director; Kalina Ollinger, Managing Editor; Amanda Cantrell, News and Opinion Editor; Stephen Taub, Senior Contributing Editor; Michelle Celarier, Contributing Writer

Entry details

The Prosecution and Defense of Leon Cooperman

Issue date (if applicable): 12/5/2016
Publication name: Institutional Investor's Alpha
Publishing company: Euromoney Institutional Investor
Website home page: www.institutionalinvestorsalpha.com

Please describe the publication's mission and readership:

Institutional Investor Alpha, a monthly magazine and 24/7 web site, was founded in 2003 to deliver the most insightful, entertaining and authoritative published content about the fast-paced and rapidly evolving world of hedge funds. Today, our mission remains constant: to be the chronicle of institutional asset management; to service institutional investors worldwide with information that helps grow their portfolio, manage their risk, and enhance their careers; and to be a watchdog as much as a cheerleader.

Please describe the enterprising work that went into this entry and its significance or impact on readers:

“The Prosecution and Defense of Leon Cooperman”
By Michelle Celarier and Stephen Taub
Institutional Investor’s Alpha, December 2016
 
The Securities and Exchange Commission charged billionaire Leon Cooperman with insider trading in September last year. Two Institutional Investor’s Alpha contributing writers, Michelle Celarier and Stephen Taub, present the arguments against and for wrongdoing by the CEO of Omega Advisors.
 
In her story, “The Case Against Leon Cooperman,” Celarier analyzes court documents and speaks with former SEC enforcement attorneys, legal experts, and even convicted inside traders. She concludes that even though Cooperman made a mere $4 million on the trades in question, he risked his entire reputation and has lost the faith of many who have exited his hedge fund.
 
On the flip side, Taub looks at the defense in “The Case for Leon Cooperman.” Given the evidence available, many lawyers believe he has a strong position. Cooperman has repeatedly stated in interviews, speeches, and client communications that he is determined to clear his name and retain his positive legacy. For those who know him, there is little doubt he’ll want to take the stand and defend his reputation.
 
Cooperman, 73, a well-respected dean of the industry, is the highest-ranking industry official to be charged personally. The SEC and the Department of Justice consider policing insider trading to be vitally important to the integrity of our markets. There is no law against the activity, however, and only court rulings provide guidance as to what constitutes insider trading.

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