Icahn Enterprises L.P. (NasdaqGS: IEP)
Icahn and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 10, 2023, pre-market, the Company disclosed that the U.S. Attorney’s office for the Southern District of New York contacted Icahn Enterprises on May 3, 2023 seeking production of information relating to the Company and certain of its affiliates’ “corporate governance, capitalization, securities offerings, dividends, valuation, marketing materials, due diligence and other materials.”
On this news, shares of Icahn fell $5.75 per share, or 15.1%, to close at $32.22 per share on May 10, 2023.
The case is Osaneme Okaro v. Icahn Enterprises L.P., No. 23-cv-21773.