PR Newswire
NEW YORK, July 14, 2023
NEW YORK, July 14, 2023 /PRNewswire/ -- Moore Kuehn, PLLC, a securities and shareholder law firm located on Wall Street, is investigating potential claims against:
- Icahn Enterprises L.P. (NASDAQ: IEP)
** Please only contact if shares purchased before August 2, 2018
Icahn Enterprises is a master limited partnership holding company owning subsidiaries engaged in several business segments, including: Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion, and Pharma.
The investigation involves allegations that: (i) Icahn Enterprises was inflating its net asset value; (ii) Icahn Enterprises was using money taken in from new investors to pay out dividends to old investors; and (iii) as a result, Icahn Enterprises would become the subject of criminal and/or regulatory scrutiny.
On May 2, 2023, Hindenburg Research published a report alleging, among other things, that Icahn Enterprises' "last reported indicative year-end [net asset value] of $5.6 billion is inflated by at least 22%." The report also claimed that Icahn Enterprises operates a "ponzi-like economic structure[]" and "has been using money taken in from new investors to pay out dividends to old investors." On this news, the price of Icahn Enterprises shares declined nearly 20%.
Then, on May 10, 2023, Icahn Enterprises revealed that the U.S. Attorney's Office for the Southern District of New York contacted Icahn Enterprises on May 3, 2023 seeking production of information relating to Icahn Enterprises and certain of its affiliates' "corporate governance, capitalization, securities offerings, dividends, valuation, marketing materials, due diligence and other materials."
If you purchased or otherwise acquired IEP (even minimal shares, please contact Fletcher Moore by email at [email protected].
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Moore Kuehn PLLC
Fletcher Moore, Esq.
(212) 709-8245
[email protected]
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