Le Lézard
Classified in: Business
Subjects: LAW, ATY

Kessler Topaz Meltzer & Check, LLP Announces Investor Securities Fraud Class Action Lawsuit Filed Against Icahn Enterprises L.P. (NASDAQ: IEP)


RADNOR, Pa., May 30, 2023 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com)  informs investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of Florida against Icahn Enterprises L.P. ("Icahn Enterprises") (NASDAQ:IEP). The action charges Icahn Enterprises with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company's business, operations, and prospects.  As a result of Icahn Enterprises' materially misleading statements and omissions to the public, Icahn enterprises' investors have suffered significant losses.

CLICK HERE TO SUBMIT YOUR ICAHN ENTERPRISES LOSSES.  YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE IN YOUR BROWSER: https://www.ktmc.com/new-cases/icahn-enterprises-lp?utm_source=PR&utm_medium=link&utm_campaign=icahn&mktm=r

LEAD PLAINTIFF DEADLINE: JULY 10, 2023

CLASS PERIOD:  AUGUST 2, 2018 THROUGH MAY 9, 2023

CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS:

Jonathan Naji, Esq. at (484) 270-1453 or via email at [email protected]   

Kessler Topaz is one of the world's foremost advocates in protecting the public against corporate fraud and other wrongdoing.  Our securities fraud litigators are regularly recognized as leaders in the field individually and our firm is both feared and respected among the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the classes of shareholders we represent.

ICAHN ENTERPRISES' ALLEGED MISCONDUCT
On May 2, 2023, market analyst Hindenburg Research published a report alleging, among other things, that Icahn Enterprises' "last reported indicative year-end [net asset value] of $5.6 billion is inflated by at least 22%."  The report also claimed that the company operates a "ponzi-like economic structure" and "has been using money taken in from new investors to pay out dividends to old investors."

Following this news, Icahn Enterprises' share price fell $10.06 per share, or 20%, to close at $40.36 per share on May 2, 2023.

Then, on May 10, 2023, before the market opened, Icahn Enterprises filed its Quarterly Report on Form 10-Q with the SEC for the period ended March 31, 2023.  Therein, the company stated 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, certain of its affiliates' "corporate governance, capitalization, securities offerings, dividends, valuation, marketing materials, due diligence and other materials." Icahn Enterprises claimed the company is "cooperating with the request" and is "providing documents in response to the voluntary request for information."

Following this news, Icahn Enterprises' share price fell $5.75 per share, or 15.1%, to close at $32.22 per share on May 10, 2023.

WHAT CAN I DO?
Icahn Enterprises investors may, no later than July 10, 2023, move the Court to serve as lead plaintiff for the class, through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Icahn Enterprises investors who have suffered significant losses to contact the firm directly to acquire more information. The class action complaint against Icahn Enterprises, captioned Okaro v. Icahn Enterprises L.P., et al, Case No. 23-cv-21773, is filed in the United States District Court for the Southern District of Florida before the Honorable Kevin Michael Moore.  

CLICK HERE TO SIGN UP FOR THE CASE

WHO CAN BE A LEAD PLAINTIFF?
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation.  The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP   
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world.  The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
280 King of Prussia Road
Radnor, PA 19087
(484) 270-1453
[email protected] 

SOURCE Kessler Topaz Meltzer & Check, LLP


These press releases may also interest you

at 12:47
"We are profoundly saddened at the passing of our firm's senior counsel Senator Joe Lieberman. We were honored when this great statesman joined our firm when he retired from the Senate over ten years ago. We are grateful for his many contributions to...

at 12:46
Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to:...

at 12:46
Olympus, a leading global medtech company providing innovative solutions for medical and surgical procedures, announced today a milestone for its iTindtm device with its availability and greater patient access through the largest healthcare group...

at 12:46
Amid the demands of dentistry, where resilience is paramount, practitioners confront challenges beyond clinical skills alone. Thriving in this environment requires a particular mindset, enabling professionals to adeptly navigate pressures, maintain...

at 12:45
Flowing Cloud Technology Ltd ("Flowing Cloud" or the "Company"); Stock Code: 6610.HK) is pleased to announce the audited consolidated results of the Company and its subsidiaries (collectively, the "Group") for the year ended December 31, 2023 (the...

at 12:45
Lewis & Clark Bancorp announces 2023 fourth-quarter and year-to-date consolidated results. Quarter-to-date net income totaled $191,000 for the three months ended December 31, 2023, compared to net income for the same period last year of $617,000....



News published on and distributed by: