In the Matter of Icahn Enterprises L.P. and In the Matter of Carl C. Icahn

Decisions and steps

1. 19 August 2024Civil penalties of US$1.5 million for IEP and US$500,000 for Icahn^S2

Claims this case bears on

• Supported85
  The Hindenburg report said Icahn had pledged 181.4 million units, about 60% of his IEP holdings, for personal margin loans.
  Short-seller report, 2 May 20233 records citedDisclosure
• Partly supported77
  IEP said in September 2024 that the SEC found no fraud, no inflation of its net asset value and no impropriety in its distributions.
  Company statement, 16 September 20242 records citedDisclosure
• Opinion54
  The May 2023 Hindenburg report described IEP's economic structure as ponzi-like.
  Short-seller report, 2 May 20232 records citedMarket conduct

Sources

1. S2Tier A SEC Charges Carl Icahn and Icahn Enterprises L.P. for Failing to Disclose Pledges of Company's Securities as Collateral for Billions in Personal LoansU.S. Securities and Exchange Commission. Regulator press release. 19 August 2024.Supports the settled findings on undisclosed pledges and the penalties. It does not address distributions or net asset value.