Icahn Enterprises Foils Investor Suit Over Carl Icahn’s Loans

Icahn Enterprises LP investors failed to adequately allege the company made misleading statements about founder Carl Icahn’s margin loans and certain financial metrics, a federal court ruled.

Lead plaintiff Philip Kosowsky also didn’t allege Icahn or other company leaders acted with the necessary level of intent for securities fraud, Judge K. Michael Moore said Sept. 13 for the US District Court for the Southern District of Florida. The proposed class suit, which followed a report by short seller Hindenburg Research saying IEP was overvalued, was dismissed with a chance to re-plead.

• Kosowsky targeted statements about the sustainability of the ...