By (Reuters) – Icahn Enterprises won the dismissal of a lawsuit claiming it artificially inflated its share price by issuing unsustainably high dividends to support the personal borrowing and financial interests of billionaire Carl Icahn, its majority investor.
In a decision on Friday, U.S. District Judge K. Michael Moore in Miami said investors who filed the lawsuit failed to show that Icahn Enterprises made material misrepresentations or omissions and did so with an intent to defraud.
The judge gave the investors until Oct. 14 to file an amended complaint.
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