BOSTON, May 02, 2023 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Icahn Enterprises L.P. (NASDAQ: IEP) for potential securities law violations. Investors who have lost money in their Icahn Enterprises investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/iep.
What is this all about?
On May 2, 2023, well-known short-seller Hindenburg Research issued an investigative report on Icahn Enterprises L.P., the “~$18 billion market cap holding company run by corporate raider and activist investor Carl Icahn, who, along with his son Brett, own approximately 85% of the company.” The Hindenburg report states that “Icahn Enterprises’ current dividend yield is ~15.8%, making it the highest dividend yield of any U.S. large cap company by far, with the next closest at ~9.9%,” and alleges that “the dividend is entirely unsupported by IEP’s cash flow and investment performance, which has been negative for years.”
Hindenburg “estimate[s] that IEP’s last reported indicative year-end NAV of $5.6 billion is inflated by at least 22%, due to a combination of overly aggressive marks on IEP’s less liquid/private investments and continued year to date underperformance.”
Shares of Icahn Enterprises L.P. dropped by more than 20% in intraday trading on May 2, 2023.
Who is eligible?
Anyone who purchased Icahn Enterprises L.P. shares and has lost money may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What is Block & Leviton doing?
Block & Leviton is investigating whether the Company committed securities law violations and may file an action to attempt to recover losses on behalf of investors who have lost money.
What should you do next?
If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600.
Why should you contact Block & Leviton?
Many law firms may issue press releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email cases@blockleviton.com with any questions.
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CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com
SOURCE: Block & Leviton LLP
www.blockleviton.com
