Billionaire Leon Cooperman Started with Nothing: ‘I Had Negative Net Worth’ (CNBC)
Billionaire investor Leon Cooperman wasn’t always rich. The Omega Family Office chairman/CEO was born to working-class Polish immigrants and grew up in a one-bedroom apartment in New York City’s South Bronx neighborhood. His father was a plumber. “I’m the first generation in my family born in America, first generation to go to college,” Cooperman, 77, said in a CNBC interview on Tuesday night.
What Did This CEO Just Do with Personal Shares of Oshkosh (NYSE: OSK)? (Analyst Ratings)
Yesterday, the CEO of Oshkosh (OSK), Wilson Jones, sold shares of OSK for $3.34M. The company has a one-year high of $95.62 and a one-year low of $46.72. Currently, Oshkosh has an average volume of 531.03K. OSK’s market cap is $4.77 billion and the company has a P/E ratio of 15.50. Based on 9 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $87.11, reflecting a -19.9% downside.
Dolby Laboratories Inc (DLB) EVP, GEN. COUN. & SECRTY Mark Andrew Sherman Sold $2 million of Shares (Guru Focus)
EVP, GEN. COUN. & SECRTY of Dolby Laboratories Inc, Mark Andrew Sherman, sold 25,000 shares of DLB on 11/03/2020 at an average price of $80 a share. The total sale was $2 million. Dolby Laboratories Inc is an audio and imaging technologies company that transforms entertainment and communications at the cinema, at home, at work and on mobile devices. It derives its revenue from licensing audio technologies.
SEC Accuses Former Aceto CFO of Insider Trading After Retirement (Reuters)
The U.S. Securities and Exchange Commission sued the former chief financial officer of Aceto Corp in Brooklyn federal court on Thursday alleging he learned inside information about the now-defunct generic drug company’s precarious financial condition before his 2018 retirement and cashed out his stock days later. The agency said Douglas Roth of East Northport, New York, avoided more than $305,000 in losses by trading ahead of Aceto’s April 2018 announcement that it would write down intangible assets by at least $230 million and was negotiating with lenders over debt covenants, causing its share price to drop 64 percent.
Corporate Insider Buying Plummets: Bad Portent? (AI-CIO.com)
The stock market has sprung back this month after September’s slide. But there’s one bearish indicator that has been growing grimmer and grimmer: corporate executives’ lack of interest in scooping up their own companies’ shares. These insiders have increasingly been buying less company stock, according to a new tally by the Washington Service research group. In October, only 396 executives bought their employer’s shares, the lowest level in four years. Purchasing last month lagged behind selling, which also has ebbed to a degree, by the most since January.
Dodd-Frank SEC Whistleblower Protection Post-Digital Realty (NatLawReview.com)
Ten years ago, Congress created a whistleblower reward program at the U.S. Securities and Exchange Commission (SEC). Under the program, the SEC is required to issue awards to eligible whistleblowers who provide original information that leads to successful enforcement actions with total monetary sanctions in excess of $1 million. In exchange for the valuable information, the SEC will pay whistleblowers between 10% and 30% of the total monetary sanctions collected. Since the inception of the SEC whistleblower program, whistleblower tips have enabled the SEC to recover more than $2.5 billion in financial remedies, most of which has been, or is scheduled to be, returned to harmed investors.
Westlake Chemical Corp (WLK) EVP and CFO Mark Steven Bender Sold $1.8 million of Shares (Guru Focus)
EVP and CFO of Westlake Chemical Corp., Mark Steven Bender, sold 24,996 shares of WLK on 11/05/2020 at an average price of $73.99 a share. The total sale was $1.8 million. Westlake Chemical Corp is a manufacturer and supplier of basic chemicals, vinyls, polymers and fabricated products that enhance the daily lives of people around the planet.
