Top Hedge Fund News, Member Posts, Hedge Fund Daily Indices and more!

4yrs ago Hedge Fund dealbreaker Views: 204

Isn’t that a funny coincidence?

Carl Icahn’s short-lived and possibly-nonexistent role as Lord High Commissioner for Shredding Regulations may not have worked out exactly as Elizabeth Warren & co. had hoped. Specifically, amidst all of the wall-building and child-caging and tax-cutting and court-packing, he just never could get POTUS to remember that the most important thing was doing something about those damned renewable fuel credits that were costing his CVR Energy oil refining business a fortune. But that doesn’t mean his occasional late-night phone calls with the president were a total waste of time. Though Carl denies it, federal prosecutors in Manhattan are wondering whether President Trump may have let slip that he was going to do a big number on foreign steel producers, the kind relied upon by Icahn Enterprises portfolio company Manitowoc, which shortly before Trump announced the steel tariffs Icahn decided that he owned $30 million too much of.

Icahn Enterprises, one of Mr. Icahn’s main investment companies, disclosed in a regulatory filing on Thursday that it had received a subpoena in June seeking “production of information pertaining to trading in shares of Manitowoc,” a crane manufacturing company….

In Thursday’s regulatory filing, Icahn Enterprises said the United States attorney’s office for the Southern District of New York “has not made any claims or allegations against us or Mr. Icahn with respect to either of the foregoing inquiries.”

Nope, nothing to worry about when the Feds want to take a look at your trading around a stock directly impacted by what your boss and buddy is doing, just like there was nothing to worry about when people started saying that Uncle Carl was getting a little free with the inside dope on the golf course. Nope, just another example of exceptionally good timing by the wily old man.

Billionaire Carl Icahn Discloses Subpoena Over Stock Trading [NYT]


Today's Hedge Fund Headlines:

Log In for More
Access Over 250K+ Industry Headlines, Posts and Updates
Not a member yet?

Join AlphaMaven

The Premier Alternative Investment
Research and Due Diligence Platform for Investors

Free Membership for Qualified Investors and Industry Participants
  • Easily Customize Content to Match Your Investment Preferences
  • Breaking News 24/7/365
  • Daily Newsletter & Indices
  • Alternative Investment Listings & LeaderBoards
  • Industry Research, Due Diligence, Videos, Webinars, Events, Press Releases, Market Commentary, Newsletters, Fact Sheets, Presentations, Investment Mandates, Video PitchBooks & More!
  • Company Directory
  • Contact Directory
  • Member Posts & Publications
  • Alpha University Video Series to Expand Investor Knowledge
  • AUM Accelerator Program (designed for investment managers)
  • Over 450K+ Industry Headlines, Posts and Updates
ALL ALPHAMAVEN CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. CONTENT POSTED BY MEMBERS DOES NOT NECESSARILY REFLECT THE OPINION OR BELIEFS OF ALPHAMAVEN AND HAS NOT ALWAYS BEEN INDEPENDENTLY VERIFIED BY ALPHAMAVEN. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS IS NOT A SOLICITATION FOR INVESTMENT. THE MATERIAL PROVIDED HEREIN IS FOR INFORMATIONAL PURPOSES ONLY. IT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY INTERESTS OF ANY FUND OR ANY OTHER SECURITIES. ANY SUCH OFFERINGS CAN BE MADE ONLY IN ACCORDANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INVESTMENT'S PRIVATE PLACEMENT MEMORANDUM. PRIOR TO INVESTING, INVESTORS ARE STRONGLY URGED TO REVIEW CAREFULLY THE PRIVATE PLACEMENT MEMORANDUM (INCLUDING THE RISK FACTORS DESCRIBED THEREIN), THE LIMITED PARTNERSHIP AGREEMENT AND THE SUBSCRIPTION DOCUMENTS, TO ASK SUCH QUESTIONS OF THE INVESTMENT MANAGER AS THEY DEEM APPROPRIATE, AND TO DISCUSS ANY PROSPECTIVE INVESTMENT IN THE FUND WITH THEIR LEGAL AND TAX ADVISERS IN ORDER TO MAKE AN INDEPENDENT DETERMINATION OF THE SUITABILITY AND CONSEQUENCES OF AN INVESTMENT.