Lyft pays $10mn to settle probe into Icahn’s stake sale ahead of IPO

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Financial Times 1w ago

Lyft pays $10mn to settle probe into Icahn’s stake sale ahead of IPO - Financial Times

Quick Summary:

Icahn sold the shares for roughly $424mn to the vehicle, of which Christodoro was an employee and “received both a fixed salary and compensation . . . relating to his work bringing investment opportunities”, the SEC claimed.

The regulator did not name the board director or the shareholder but two sources familiar with the matter confirmed they were Christodoro and Icahn Enterprises, respectively.

To overcome the risks, Christodoro recommended an arrangement where Icahn would sell his entire 2.6 per cent stake to him in a private transaction before Christodoro found a third party buyer.