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In the week ending 23 September, 2016, on the legal scene; the SEC has charged Leon Cooperman of insider trading in connection with Atlas Pipeline; Cooperman told his investors that he refuses to settle the insider trading charges against him and Omega Advisors.

The law firm Sadis & Goldberg LLP said that the SEC's Cooperman insider trading case is very similar to the Cuban case, since it relies on a "he-said, she-said" claim of an oral promise not to trade. Whether an adverse inference applies due to Mr. Cooperman taking the Fifth in SEC testimony may determine the outcome of the case. The hedge fund titan once called President Obama a “class warrior”. Cooperman’s son, Wayne, thought that his dad's trades were pretty fishy while Mark Cuban said he is dubious about the case brought against Cooperman by the SEC. News of legal charges against Cooperman saw some of his largest holdings to tumble.

Elliott Advisors launched court proceedings against Bank of East Asia; and Joshua Terry has forced Highland Capital into arbitration over his claim that he was fired for questioning illegal self-dealing.

SpringOwl Asset has announced plans to launch an activist hedge fund that invests in real estate; John Aylward has received about $300m from Paloma Partners for his new London-based credit hedge fund; Mumbai-based Avendus Capital hired Andrew Holland to enter hedge fund space; Ben Melkman is laun......................

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