Icahn Enterprise Respond: Details Behind the $2 Million Settlement

Carl Icahn and his team, along with outside counsel Jonathan Streeter from Dechert LLP, responded to our email seeking more information about the $2 million settlement they agreed to pay to the SEC.

Carl Icahn responded with the following statement: “After Hindenburg issued a false report to make money on its short position at the expense of ordinary investors, the government investigation that followed has resulted in this settlement which makes no claim IEP or I inflated NAV or engaged in a ‘Ponzi-like’ structure.  Hindenburg’s modus operandi, which is to publish scurrilous and unsupported allegations, did damage to IEP and its investors.  We are glad to put this matter behind us and will continue to focus on operating the business for the benefit of unit holders.” 

As reported, this settlement follows Mr. Icahn and his company’s failure to disclose $5 billion in margin loans secured by his holdings in his own company.