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 firstname.lastname@example.org.
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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.