Settlement Concludes Years Long Investigation

Billionaire Carl Icahn Settles with SEC for $2 million

Settlement Concludes Years-Long Investigation

SEC Charges Icahn with Failing to Disclose Conflicts of Interest

Billionaire investor Carl Icahn and his firm, Icahn Enterprises LP (IEP), have agreed to pay $2 million to settle charges with the U.S. Securities and Exchange Commission (SEC).

The SEC alleged that Icahn failed to disclose conflicts of interest in certain transactions involving his firm's investments.

As part of the settlement, Icahn and IEP have agreed to pay civil penalties of $1.5 million and $500,000, respectively.

The SEC's investigation found that Icahn failed to disclose conflicts of interest in several instances, including:

Failing to disclose that he had a personal stake in a company that his firm was investing in.

Failing to disclose that he was considering acquiring a company that his firm was investing in.

Failing to disclose that he was in talks to sell a company that his firm was investing in.

The SEC also found that Icahn failed to maintain adequate policies and procedures to prevent conflicts of interest.

The settlement is the latest in a series of enforcement actions by the SEC against Icahn and his firm.

Conclusion

The SEC's settlement with Icahn and IEP is a reminder of the importance of disclosing conflicts of interest in investment transactions.

Investors should be aware of any potential conflicts of interest that their investment managers may have and take steps to protect themselves from any potential harm.