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Technology Stocks : XO Holdings, Inc. (XOHO - XO Communications)
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From: tech1018/10/2009 4:55:09 PM
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Carl Icahn Goes Silent As Lawsuits Pile Up

Lawrence Delevingne|Aug. 10, 2009, 1:02 PM|comment3
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Everyone's favorite corporate raider, Carl Icahn, has gone silent, at least on his blog.

"The Icahn Report" hasn't been updated since April after months of consistent online musings by the financier. Why? According to this report in The New York Post:

"Analyst Peter Cohan believes Icahn got cold feet after repeatedly hammering the legal system in Delaware about its protective walls around boards and management. 'No doubt he's done a cost-analysis and discovered he'll have better returns from keeping his mouth closed until he gets his legislative agenda accomplished,' Cohan said.

Icahn countered that he's not concerned about his recently-silent blog. 'We made a lot of important points about corporate governance, and we got a pretty good response,' Icahn told The Post. 'We'll be back in the fall and involved in the legislation discussion.'"

But the billionaire investor has also faced two lawsuits recently, which could be additional reasons to lay low. Last week, two former female employees of Icahn Enterprises sued, alleging that Icahn's wife Gail and another woman forced them out unfairly because they weren't part of the right office clique. According to the Post, they're seeking $1.5 million in damages; Icahn dismisses the claims.

The financier also faces a suit from R2 Investments, a shareholder in XO Holdings along with Icahn. As Bloomberg reports, R2 calls Icahn's 55-cent-a-share offer for the communications company "insulting" and seeks unspecified damages.

businessinsider.com
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