Icahn Enterprises L.P.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
According to the allegations made in the complaint, on May 2, 2023, Hindenburg Research released a report containing various claims, one of which suggested that Icahn Enterprises’ reported net asset value of $5.6 billion at the end of the year was inflated by a minimum of 22%. The report further accused the company of operating a “ponzi-like economic structure” and using funds from new investors to pay dividends to existing investors. As a result, Icahn Enterprises’ stock price experienced a decline of $10.06 per share, equivalent to a 20% decrease, closing at $40.36 per share on May 2, 2023.
Subsequently, on May 10, 2023, Icahn Enterprises filed its Quarterly Report on Form 10-Q with the Securities and Exchange Commission (SEC) for the period ending March 31, 2023. In the report, the company disclosed that the U.S. Attorney’s office for the Southern District of New York had contacted Icahn Enterprises on May 3, 2023, requesting the submission of information related to the company and certain affiliates. The information sought encompassed areas such as corporate governance, capitalization, securities offerings, dividends, valuation, marketing materials, due diligence, and other relevant documents. Icahn Enterprises stated its cooperation with the request and its willingness to provide the requested information on a voluntary basis. Consequently, the company’s stock price fell $5.75 per share, or approximately 15.1%, closing at $32.22 per share on May 10, 2023.
