Icahn’s Firm Vies to Lead Suit Over $25 Billion Endeavor Buyout

Carl Icahn’s investment firm is fighting a small investor to spearhead a proposed class action lawsuit alleging former shareholders in Endeavor Group Holdings Inc. should have made more money from Silver Lake’s $25 billion buyout.

Icahn Enterprises has joined with a Swedish bank in one of two proposed class action complaints filed in Delaware claiming Silver Lake and Endeavor executives — including Hollywood superagent Ari Emanuel — breached their fiduciary duties to shareholders by striking an unfair deal that rewarded lucrative payouts to insiders.