On May 16, 2023, Cove Street Capital, LLC expressed its views that the IEH Corporation's shares are currently undervalued and have privately engaged in discussions with IEH Corporation's management and its board of directors about, among other things, improving operational performance, corporate governance issues, and investor relations post the Company's attainment of ‘current' status in its filings with the SEC. Cove Street Capital also expressed that there is an opportunity to significantly improve the Company's share value.