Billionaire activist Carl Icahn came away with a court victory this week after a federal judge dismissed a lawsuit that had accused him of defrauding shareholders of his investment company Icahn Enterprises so he could obtain large personal loans.
Icahn, a major holder of Oklahoma oil and gas operations SandRidge Energy and the CVR Refining in Pauls Valley, celebrated the ruling.
“We are pleased that the spurious claims of various unscrupulous characters, working together in a coordinated and clandestine network, have been debunked,” stated Icahn who called the lawsuit “meritless.”
As Reuters explained, the lawsuit stemmed from a 2023 report by short-selling firm Hindenburg Research. It questioned whether Icahn’s company inflated its share price by paying out excessive shareholder dividends.
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