August 21, 2017 8:53 PM ET

Capital Markets

Company Overview of Omega Advisors, Inc.

Company Overview

Omega Advisors, Inc. is an employee owned hedge fund sponsor. The firm primarily provides its services to pooled investment vehicles. It also caters to pension and profit sharing plans, charitable organizations, and corporations. The firm manages separate client-focused portfolios for its clients. It invests in the public equity, fixed income, and alternative investment markets across the globe with a focus on the United States. The firm invests in value stocks of companies employing fundamental analysis with bottom-up stock picking approach to make its investments. It employs long/short equity strategy with a long side bias to make its investments. Omega Advisors was founded in 1991 and is ...

810 Seventh Avenue

33rd Floor

New York, NY 10019

United States

Founded in 1991

Phone:

212-495-5200

Fax:

212-495-5236

Key Executives for Omega Advisors, Inc.

President, Chief Executive Officer, and Chairman
Age: 74
Chief Financial Officer
Chief Operating Officer
Co-Director of Research
Co-Director of Research
Compensation as of Fiscal Year 2017.

Omega Advisors, Inc. Key Developments

Cooperman, Omega Settle SEC Insider Trading Charges for USD 4.95 Million

Leon Cooperman and his firm Omega Advisors Inc. agreed on to pay USD 4.95 million to settle the U.S. Securities and Exchange Commission's insider trading lawsuit against them. The accord resolves charges that Cooperman and Omega reaped about USD 4.09 million of profit in 2010 by trading in Atlas Pipeline Partners LP, a longstanding holding, based on confidential tips that Cooperman received from an Atlas executive about a planned asset sale. Cooperman and Omega did not admit wrongdoing in agreeing to the settlement, which includes USD 2.76 million of fines and a requirement that an independent consultant monitor their trading activity for five years. Court approval is required. Neither defendant was subjected to industry bans, which often accompany SEC settlements. Omega did not respond to several requests for comment. The settlement with Cooperman, 74, resolves one of the highest-profile U.S. insider trading cases, which have cast shadows over well-known hedge fund managers like Galleon Group's Raj Rajaratnam and SAC Capital Advisors' Steven A. Cohen. Omega has also suffered, with assets under management falling to about USD 3.6 billion as of March 31 from about USD 5.4 billion when the SEC sued in September. On March 20, U.S. District Judge Juan Sanchez in Philadelphia ruled that the SEC could pursue claims that Cooperman "misappropriated" information despite the apparent absence of a prior agreement by him not to trade. Cooperman's lawyers had been preparing an appeal, faulting the SEC's "aggressive and untested" theory that their client's post-disclosure agreement, an oral promise, to keep information confidential could justify insider trading charges. Thursday's settlement ends that process, and avoids a trial that had been scheduled for Nov. 6. Cooperman is worth USD 3 billion.

SEC Charges Omega Advisors, Inc. for Short Selling Violations in Advance Stock Offerings

The Securities and Exchange Commission announced enforcement actions against Omega Advisors, Inc. The firm agreed to pay disgorgement of $68,340, prejudgment interest of $686.58, and a penalty of $65,000.  Intended  to  preserve the  independent pricing  mechanisms of  the securities  markets and  prevent stock price manipulation, Rule 105 prohibits firms  from participating in public stock  offerings after selling short  those same stocks. Through  its Rule 105 Initiative,  which was first announced  in 2013 as an effort  to address violations of the rule in an  expedited and  streamlined way,  the Division  of Enforcement  has taken  action on  every Rule  105 violation  over a de minimis  amount that has come  to its attention--promoting a  message of zero tolerance for these offenses.

Omega Advisors, Inc. Presents at Imperial Capital Global Opportunities Conference, Sep-17-2015 12:00 PM

Omega Advisors, Inc. Presents at Imperial Capital Global Opportunities Conference, Sep-17-2015 12:00 PM. Venue: The Waldorf Astoria Hotel, 301 Park Avenue, New York, NY 10022, United States. Speakers: Leon G. Cooperman, President, Chief Executive Officer, and Chairman.

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