Defendant Name: Icahn Enterprises L.P.

Defendant Type: Public Company

Document Reference: 2024-99

Document Details

Legal Case Name In the Matter of Icahn Enterprises L.P.
Document Name SEC Charges Carl Icahn and Icahn Enterprises L.P. for Failing to Disclose Pledges of Company's Securities as Collateral for Billions in Personal Loans
Document Date 19-Aug-2024
Document Format Administrative Proceeding
File Number 3-22011
Allegation Type Issuer Reporting and Disclosure
Document Summary On August 19, 2024, the SEC "announced charges against Carl C. Icahn and his publicly traded company, Icahn Enterprises L.P. (IEP), for failing to disclose information relating to Icahn’s pledges of IEP securities as collateral to secure personal margin loans worth billions of dollars under agreements with various lenders. IEP and Icahn agreed to pay $1.5 million and $500,000 in civil penalties, respectively, to settle the SEC’s charges."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Civil Penalty

Individual:     $1,500,000.00 Shared:    

Related Documents:

34-100755 19-Aug-2024 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On August 19, 2024, the SEC instituted settled cease-and-desist proceedings against Icahn Enterprises L.P., stating: "IEP, a public company, failed to disclose that Carl C. Icahn, its founder, controlling shareholder, and Chairman of the Board of Directors of its general partner, pledged IEP securities as collateral to secure personal margin loans under agreements with various lenders in its Forms 10-K for at least the fiscal years ended December 31, 2018 through December 31, 2020, as required by Item 403(b) of Regulation S-K. IEP’s failures to disclose deprived existing and prospective IEP investors of information required to be disclosed. As a result, IEP violated Section 13(a) of the Exchange Act and Rule 13a-1 thereunder."

Related Actions:

In the Matter of Carl C. Icahn
Carl C. Icahn