Interesting theory that holds merit depending on how many COOP shares might be distributed.
If one were reasonably certain of the value of the hidden assets and reasonably certain there would be a stock distribution to 'buy' them, one could short COOP in advance to keep the share price low. This would increase the number of shares that need to be distributed to 'match' the value of the assets.
Once the distribution occurs, some of the shares balance the short shares. Now you could conceivably have more shares left after that than you would have gotten in advance.
I wish I had thought of that maneuver! Very insightful, serafino!
As for insider trading complications, all that has to be done is to show valid reasoning for the trade that does not involve future distributions. I bet there are already documents (or at least emails) detailing those reasons in place for when (if) the SEC comes knocking.