Carl Icahn, billionaire activist investor, waits for Donald Trump, president and chief executive of Trump Organization Inc. and 2016 Republican presidential candidate, not pictured, to speak at an election night event in New York, U.S., on Tuesday, April 19, 2016.
Victor J. Blue | Bloomberg | Getty Images
The Securities and Exchange Commission charged billionaire activist investor Carl Icahn with illegally failing to disclose billions of dollars worth of personal margin loans pledged against the value of his Icahn Enterprises stock.
Icahn and the publicly-traded company that bears his name agreed to pay $500,000 and $1.5 million, respectively, to settle those charges, the SEC said in a press release Monday.
Icahn Enterprises shares plunged more than 5% on the news in pre-market trading Monday.
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