Icahn Enterprises has recently experienced a major tenant default at a property it owns in Las Vegas. The company could lose up to $14M. - The disclosure has added pressure to Icahn Enterprises, which is facing scrutiny from Hindenburg Research, which has accused the company of misleading investors about its financial performance.
- Carl Icahn denied the allegations and accused Hindenburg of engaging in market manipulation and spreading false information. As a result of these claims, the U.S. Attorney’s Office for the Southern District of New York is seeking information on Icahn Enterprises LP’s corporate governance, securities offerings, dividends, and due diligence.
- The dispute has led to a legal battle, with Icahn filing a lawsuit against Hindenburg and the short-selling firm filing a countersuit.
- Icahn Enterprises has also lost over $2B worth of market share in the last few days.
- Industry experts claim that the outcome of this dispute could have implications for the broader real estate and investment industries.
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