New York, New York--(Newsfile Corp. - May 25, 2023) - Pomerantz LLP is investigating claims on behalf of Investors of Icahn Enterprises L.P. ("Icahn" or the "Company") (NASDAQ: IEP). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Icahn and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On May 2, 2023, Hindenburg Research ("Hindenburg") published a report alleging that Icahn is substantially overvalued and operating a "Ponzi-like economic structure." The Hindenburg report specifically alleged that "Icahn has been using money taken in from new investors to pay out dividends to old investors," claiming that Icahn sells partnership units to new investors to support dividend payouts to existing investors.
On this news, Icahn's stock price fell $10.06 per share, or 19.95%, to close at $40.36 per share on May 2, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
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