NEW YORK, May 08, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Shift4 Payments, Inc. (NYSE: FOUR), and Icahn Enterprises L.P. (NASDAQ: IEP). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Shift4 Payments, Inc. (NYSE: FOUR)
On April 19, 2023, Blue Orca Capital issued a report on Shift4 Payments, Inc., alleging that the Company “engaged in a string of highly questionable and hyper aggressive accounting maneuvers seemingly designed to keep the stock afloat, from cash flow manipulation to inexplicable distributor acquisitions that enabled it to capitalize a major component of COGS.”
The report also alleges that “Shift4’s CFO abruptly left the Company the day before its Q2 2022 earnings call, amidst a lengthy string of correspondence with the SEC over its accounting. Its auditor warned of a material weakness over internal controls the very next quarter, just as it spent $256.4 million in a string of M&A that enabled it to capitalize a material share of COGS.”
Shares of Shift4 Payments stock dropped more than 12% in intraday trading on April 19, 2023.
For more information on the Shift4 investigation go to: https://bespc.com/cases/FOUR
Icahn Enterprises L.P. (NASDAQ: IEP)
On May 2, 2023, Hindenburg Research released a report outlining its concerns regarding Icahn Enterprises. The firm alleges that IEP units are inflated by up to 75% stating, “(1) IEP trades at a 218% premium to its last reported net asset value (NAV), vastly higher than all comparables (2) we’ve uncovered clear evidence of inflated valuation marks for IEP’s less liquid and private assets (3) the company has suffered additional performance losses year to date following its last disclosure.”
Following this news, Icahn’s stock price dropped as much as 15.75% in intraday trading.
For more information on the Icahn investigation go to: https://bespc.com/cases/IEP
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
