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Stock Market & Financial Investment News

News Breaks
June 2, 2014
06:29 EDTIEPLawyers say U.S. up against obstacles bringing case against Icahn, Reuters says
Legal expects are saying that questions about how to apply securities law to activist investors might complicate any possible insider trading case against activist investor Carl Icahn, pro-golfer Phil Mickelson and Las Vegas gambler William Walters, reported Reuters. Reference Link
News For IEP From The Last 14 Days
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November 25, 2014
16:50 EDTIEPIcahn says agreed to exchange $286M Taj Mahal debt for equity
In an open letter to Local 54 president Bob McDevitt, Carl Icahn commented on the Shareholders' Square Table website: "I also care about the Taj Mahal, and that is why I am doing everything I can to save the jobs of the 3,000 employees who work there. To that end, I am agreeing to exchange my $286M of outstanding debt for equity and, if the proper deal is reached with the City, State and Union, to invest an additional $100M in the Taj. In addition, even though the Judge observed that the Union did not bargain in good faith and ruled that the company could terminate the existing healthcare plan and pension, I have told the company that I will even go along with their proposal to restore Local 54 healthcare for two years and create a new pension, if Local 54 will withdraw its appeal and provide labor peace." Reference Link

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