Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Southern District of Florida on behalf of shareholders of Icahn Enterprises L.P. who purchased shares between August 2, 2018 and May 9, 2023.
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.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until July 10, 2023 to request that the court appoint them lead plaintiff.