Girard Sharp, LLP and Malmfeldt Law Group P.C., national investment, securities, and consumer class action firms, announce that they are investigating securities claims on behalf of unitholders of Icahn Enterprises L.P. (NASDAQ: IEP).
If you acquired Icahn Enterprises units, have losses of $100,000 or more, and would like to discuss your potential claim, please fill out this form, email apolk@girardsharp.com, or call (866) 981-4800 for a free consultation.
On May 2, 2023, the research firm Hindenburg Research published a report alleging that Icahn Enterprises has misvalued certain of its assets. The report further alleges that Icahn Enterprises’ controlling unitholder, Carl 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.’”
Icahn Enterprises units declined from a closing price of $50.42 on May 1, 2023 to a closing price of $40.36 on May 2, 2023, a decline of approximately 20%. The following day, the units declined by an additional 19.3%.
On May 10, 2023, The Wall Street Journal reported that the day after Hindenburg Research’s report was published, “the U.S. Attorney’s Office for the Southern District of New York contacted Icahn Enterprises asking for information about corporate governance, dividends and other topics.”
If you acquired Icahn Enterprises Units and have losses of at least $100,000, click here to participate.
We also encourage you to contact Adam Polk of Girard Sharp LLP, 601 California Street, Suite 1400, San Francisco, CA 94108, at (866) 981-4800, to discuss your rights free of charge. You can also reach us through the firm’s website at www.girardsharp.com, or by email at apolk@girardsharp.com.
Why Girard Sharp?
Girard Sharp represents investors, consumers, and institutions in class actions and other complex litigation nationwide. We serve on the Plaintiffs’ executive committee in the recent spoofing litigation against JPMorgan Chase that settled for $60 million, a favorable resolution that the district court preliminarily approved in December 2021. Our attorneys have obtained multimillion-dollar recoveries for victims of unfair and deceptive practices in antitrust, financial fraud, and consumer protection matters against some of the country’s largest corporations, including Raymond James, John Hancock, and Sears. Girard Sharp has earned top-tier rankings from U.S. News and World Report for Securities and Class Action Litigation and has been repeatedly selected as an Elite Trial Lawyers finalist by the National Law Journal.
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