Stock Market News

Icahn Enterprises wins dismissal of investor lawsuit

09/13/2024

Less than a minute

2024.09.13 17:41

(Reuters) – Icahn Enterprises won the dismissal of a lawsuit claiming it artificially inflated its share price by issuing unsustainably high dividends to support the personal borrowing and financial interests of billionaire Carl Icahn, its majority investor.

© Reuters. FILE PHOTO: Carl Icahn, chairman of Icahn Enterprises LP, speaks via video with Ken Squire, founder and president of 13D Monitor, during the 13D Monitor's Active-Passive Investor Summit in New York City, U.S., October 17, 2023. REUTERS/Brendan McDermid/File Photo

In a decision on Friday, U.S. District Judge K. Michael Moore in Miami said investors who filed the lawsuit failed to show that Icahn Enterprises made material misrepresentations or omissions and did so with an intent to defraud.

The judge gave the investors until Oct. 14 to file an amended complaint.

09/13/2024

Less than a minute

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