Securities class action litigation has been filed on behalf of investors who purchased the publicly traded securities of Icahn Enterprises L.P. (“Icahn Enterprises” or the “Company”) (NASDAQ: IEP) between August 2, 2018 and May 9, 2023, inclusive (the “Class Period”).

If you purchased Icahn Enterprises securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than July 10, 2023.  A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the actions will not be affected by your decision of whether to seek appointment as lead plaintiff.  You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.

IEP investors who wish to learn more about the litigation and how to seek appointment as lead plaintiff complete the form below, text or email investorinfo@lchb.com, or call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358.

Icahn Enterprises is a master limited partnership holding company that owns subsidiaries engaged in a variety of business sectors.  Defendant Carl C. Icahn (“Icahn”) and his affiliates owned approximately 85% of the depositary units in Icahn Enterprises as of December 31, 2022.

The action alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) Icahn Enterprises artificially inflated its net asset value; (2) the Company funded dividends paid to old investors with money from new investors; and (3) Icahn Enterprises was likely to become subject of criminal and/or regulatory scrutiny.

On May 2, 2023, Hindenburg Research published a report alleging that Icahn Enterprises inflated its 2022 year-end net asset value by at least 22%.  The report also claimed that Icahn Enterprises operated like a ponzi scheme by using money taken from new investors to pay out dividends to old investors.  On this news, the price of Icahn Enterprises depositary units fell $10.06, or 19.95%, to close at $40.36 per share on May 2, 2023.

On May 10, 2023, Icahn Enterprises filed a Form 10-Q with the Securities and Exchange Commission for the quarter ended March 31, 2023 that disclosed that the U.S. Attorney’s office for the Southern District of New York requested information from Icahn Enterprises relating to its “corporate governance, capitalization, securities offerings, dividends, valuation, marketing materials, due diligence and other materials.”  On this news, the price of Icahn Enterprises depositary units fell $5.75, or 15.14%, to close at $32.22 per share on May 10, 2023.

About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Munich, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $127 billion in verdicts and settlements. Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” In 2021, The American Lawyer named our firm its “Boutique Litigation Firm of the Year.” Benchmark Litigation has named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America,” and listed us as its “2020 California Plaintiff Firm of the Year.” Lieff Cabraser is committed to ensuring access to justice for all.

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