Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Icahn Enterprises L.P. (“Icahn Enterprises” or “the Company”) (NASDAQ: IEP). Investors who purchased Icahn Enterprises securities are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/iep.
The investigation concerns whether Icahn Enterprises has violated federal securities laws.
On May 2, 2023, Hindenburg Research released a report entitled “Icahn Enterprises: The Corporate Raider Throwing Stones From His Own Glass House,” in which it alleged that Icahn Enterprises has improperly overvalued its assets, and that “Icahn has been using money taken in from new investors to pay out dividends to old investors. Such ponzi-like economic structures are sustainable only to the extent that new money is willing to risk being the last one ‘holding the bag.’” Following this news, Icahn Enterprises stock dropped roughly 20% to close at $40.36 per share on that same day.
Then, on May 10, 2023, The Wall Street Journal published an article, “Icahn Enterprises Under Federal Investigation” which stated, “federal prosecutors opened an inquiry into Carl Icahn’s investment company, the day after the Hindenburg Research report said the firm was inflating the value of its assets.” The article stated that the day after the Hindenburg Research report was released, the U.S. Attorney’s Office for the Southern District of New York contacted the Company seeking information about its corporate governance and dividends. Following this news, Icahn Enterprise stock dropped roughly 19% during intraday trading on May 10, 2023.
If you are aware of any facts relating to this investigation or purchased Icahn Enterprises shares, you can assist this investigation by visiting the firm’s site: www.bgandg.com/iep. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | email@example.com