Activist investor Carl Icahn has agreed to pay $2 million to settle a probe by the Securities and Exchange Commission. The SEC investigation concerned Icahn's alleged failure to disclose pledges of his public company's securities as collateral for billions of dollars in personal margin loans.

Yahoo Finance Senior Legal Reporter Alexis Keenan breaks down the details surrounding the billionaire investor and his company Icahn Enterprises (IEP).

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This post was written by Melanie Riehl