NEW YORK, May 2, 2023: Wolf Popper LLP is investigating potential securities fraud claims on behalf of purchasers of Icahn Enterprises L.P. (“Icahn Enterprises”) units (NASDAQ: IEP).
Icahn Enterprises is a master limited partnership that holds Carl Icahn’s investments in public securities and private companies.
Before the market opened on May 2, 2023, Hindenburg Research published a short seller report headlined “Icahn Enterprises: The Corporate Raider Throwing Stones From His Own Glass House.” The report alleges a number of examples of potentially overinflated assets held by Icahn Enterprises. For example, Icahn Enterprises owned 90% of a publicly traded meat packaging business and valued that stake on December 31, 2022 at $243 million when the company only had a market value of $89 million. In addition, Icahn Enterprises reported that the value of its real estate holdings “have been remarkably stable” over the past years even though the Trump Plaza in Atlantic City was razed in 2021 and a country club almost went insolvent before it was taken over by members during that timeframe. On this news, Icahn Enterprises’ unit price has fallen $10.42 per unit in intraday trading to $40.00, down 20.7% on heavy volume.
Investors who have lost over $50,000 trading in Icahn Enterprises’ units and who would like to discuss the investigation should contact Adam Savett at (212) 451-9655, or outreach@wolfpopper.com.
Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper’s reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm’s website at www.wolfpopper.com.
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Contact Instructions
Phone: Adam Savett - (212) 451-9655
Email: Outreach@wolfpopper.com