Billionaire activist investor Carl Icahn waits for Donald Trump (not pictured), President and CEO of The Trump Organization and 2016 Republican presidential candidate, on Tuesday, April 19, 2016 in New York, United States Speech at an election night event held.
Victor J. Blue | Bloomberg | Getty Images
The U.S. Securities and Exchange Commission has charged billionaire activist investor Carl Icahn with illegally failing to disclose billions of dollars worth of personal margin loans pledged against the value of his stock in Icahn’s businesses.
The Securities and Exchange Commission said in a press release on Monday that Icahn and the public company that bears his name agreed to pay $500,000 and $1.5 million, respectively, to settle the charges.
Affected by this news, Icahn Enterprises (Icahn Enterprises) shares plunged more than 5% in pre-market trading on Monday.
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