Icahn Enterprises stock climbed higher on Tuesday following a 14% jump the previous day. The boost came after a U.S. District Court judge dismissed a class action lawsuit against the company, finding that the claims made by short seller Hindenburg Research lacked merit. This positive news comes on the heels of a settlement with the SEC regarding disclosures about Icahn’s personal margin loans.
Billionaire investor Carl Icahn, known for his outspoken criticism of corporate boards and their oversight of CEOs, finds himself in the spotlight as the SEC investigates his company’s financial practices. This situation echoes concerns he raised in 2009 about the lack of accountability in corporate governance, which he blamed for the financial crisis. Icahn’s own company, Icahn Enterprises, faces scrutiny for its disclosure practices and use of company shares as collateral for personal loans, highlighting the very issues he previously criticized.
