Reported about 2 months ago
Icahn Enterprises, the firm of billionaire investor Carl Icahn, saw its shares drop to a 20-year low after announcing a plan to sell up to $400 million in depository units. The stock fell as much as 14.3%, closing down 11.5% at $14.07. The offering aims to fund potential acquisitions. This decline follows a settlement with U.S. regulators regarding undisclosed margin loans and comes amid ongoing scrutiny from short-sellers alleging financial mismanagement.
Source: YAHOO