Hindenburg Research steps up its offensive against billionaire Carl Icahn's investment firm by shorting its bonds
Hindenburg Research stepped up its market offensive against Carl Icahn's business empire, just days after it published a bombshell report accusing the billionaire of running"Ponzi-like" structures. , Hindenburg disclosed it had opened a short position in the bonds of Icahn Enterprises , and said the holding company failed to address any of the key issues flagged in the May 2 report.
"Perhaps most importantly, the company failed to disclose basic details of Carl Icahn's margin loans, which we strongly suspect represent a near-term critical threat to IEP unitholders," Hindenburg said on Thursday. "We are short units of Icahn Enterprises L.P. and have initiated a short position in IEP bonds," it added.
The short seller's latest move comes after Icahn Enterprises posted a surprise quarterly loss on Wednesday and disclosed that it had been contacted by the US Attorney's office on May 3, a day after the Hindenburg released the report that accused the Icahn's company of
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