If you invested in IEP and have substantial losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman. “We’re focused on investors’ losses and whether IEP may have misrepresented its dividend sustainability and asset values,” said Reed Kathrein, the Hagens Berman partner leading the investigation. In response to Hindenburg’s research, the price of IEP depositary units crashed sharply lower. On May 2, 2023, Hindenburg Research published a scathing report concluding that, while IEP depositary units trade at a 218% premium to its last reported net asset value (“NAV”), the units are inflated by 75% and its “dividend is entirely unsupported by IEP’s cash flow and investment performance, which has been negative for years.”Īmong other things, Hindenburg accuses IEP inflating its NAV “due to a combination of overly aggressive marks on IEP’s less liquid/private investments and continued year to date underperformance.” In just one of the examples Hindenburg cites, “IEP owns 90% of a publicly traded meat packing business that it valued at $293 million at year end” while “’he company had a market value of only $89 million at the time.”
The investigation focuses on the propriety of IEP's financial reporting, including the accuracy of its mark to market asset values. Visit: Contact An Attorney Now: Enterprises L.P. (NASDAQ: IEP) investors who suffered substantial losses to submit your losses now.
SAN FRANCISCO, (GLOBE NEWSWIRE) - Hagens Berman urges Icahn Enterprises L.P.
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