WOW!
Carl Icahn's Icahn Enterprises stock falls 20% after company discloses federal probe
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I guess I won't be on Cramer....
Wed, May 10, 2023, 12:21 PM EDT
In this article:
IEP
-13.81%<---------
Carl Icahn’s Icahn Enterprises (
IEP) stock tanked on Wednesday after the company revealed in an
SEC filing it’s under investigation from federal prosecutors.
The U.S. Attorney's office for the Southern District of New York contacted Icahn the day after Hindenburg Research released a short-seller report accusing Icahn Enterprises of a
“Ponzi-like” structure.
The federal prosecutors sought information about dividends and corporate governance, among other topics, according to an SEC filing released on Wednesday.
Icahn Enterprise shares fell as much as 20% on Wednesday in response to the news and are now down more than 40% since the report.
Icahn and “affiliates” own approximately 84% of Icahn Enterprises,
according to a release. The slump in IEP shares have sent Icahn’s net worth down nearly 40%,
according to Bloomberg’s billionaires index.