Why Icahn Enterprises Blasted Nearly 15% Higher on Monday

On news that a potentially resource-draining lawsuit against the company had been dismissed, units of master limited partnership Icahn Enterprises (NASDAQ: IEP) leaped almost 15% in price on Monday. This occurred on a rather sleepy trading session for stocks, with the S&P 500 index only bumping 0.1% higher.Before market open, Icahn Enterprises announced -- no doubt with immense satisfaction -- that a district court judge had dismissed the suit. In the legal action, the company's chairman and namesake Carl Icahn was accused of defrauding its unitholders in order to obtain significant amounts of personal loans.That accusation came shortly after a report published by short-seller Hindenburg Research that said Icahn and company management had committed a range of transgressions. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool