Question: Please thoroughly read this article and briefly answer the question. Omega's Cooperman accused of insider trading in Atlas Pipeline Source: Reuters, Sep 22, 2016 Famed

Please thoroughly read this article and briefly answer the question.

Please thoroughly read this article and briefly answer the question. Omega's Cooperman

Omega's Cooperman accused of insider trading in Atlas Pipeline Source: Reuters, Sep 22, 2016 Famed investor Leon Cooperman was accused of insider trading by US regulators SEC in the government's biggest case against a hedge fund manager since its crackdown on SAC Capital Advisors. The case centres on several trades Cooperman made in 2010 on Atlas Pipeline Partners, an energy company. In 2010, an Atlas executive told Cooperman (a major shareholder in Atlas) that the company was preparing to sell a key asset, which would help relieve some of its financial crunch, according to the Securities and Exchange Commission complaint. Cooperman used that information to buy shares in the company and generate a $US4.6 million ($6 million) profit for himself, his hedge fund and a family member, according to the complaint. "Members of the investing public who traded APL securities at the same time as Cooperman and Omega were harmed because Defendants gained an advantageous market position through their misappropriation and use of material nonpublic information," according to a SEC statement. "We allege that hedge fund manager Cooperman, who as a large APL shareholder obtained access to confidential corporate information, abused that access by trading on this information," Andrew Ceresney, head of SEC's division of enforcement, said in a statement. Cooperman said in a letter on Wednesday to investors he strongly disagreed with the SEC's allegations and that the firm hasn't engaged in any unlawful conduct. He's planning to hold a conference call with investors later in the day. When Omega Advisors received a subpoena about trading in Atlas, Cooperman contacted the Atlas company executive and told him try to fabricate a story, according to the SEC. The executive was shocked and angered when he learned that Cooperman had traded in advance of Atlas's announcement, the regulator said. The SEC's complaint seeks disgorgement of ill-gotten gains plus interest, penalties and permanent injunctions against Cooperman, 73, and Omega Advisors, as well as a permanent ban against the hedge fund manager. The hedge fund manager first established a stake in Atlas Pipeline in the fourth quarter of 2007, according to SEC filings. The position increased substantially in late 2010 and again in late 2013, according to data compiled by Bloomberg. Cooperman's firm, with $US5.4 billion in assets under management as of August 31, is among the oldest in the hedge fund industry. He's built a reputation as a stock picker over almost half a century by scrutinising undervalued companies and asking management tough questions. He previously headed Goldman Sachs Asset Management and worked at the Wall Street firm for 25 years before leaving in 1991. Question: Discuss the ethical concerns as they relate to share market integrity

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