That was much higher than the 181.4 million units Icahn had pledged earlier. He has pledged about 202.6 million of the depositary units he owns for loans as of May 9. Icahn owns about 84% of IEP, according to the investment firm’s latest quarterly update. Known for his face-offs with industry heavyweights such as AIG and McDonald’s Corp, the billionaire has never seen his firm become a target of corporate activism. Icahn called the report “self-serving” and vowed to take appropriate steps to “fight back”. The short seller, whose reports on companies have erased a big chunk of their value, had criticized the investment firm for over-reporting its finances and accused it of relying on a “Ponzi-like” structure to pay dividends.
“We are short units of Icahn Enterprises and have initiated a short position in IEP bonds,” Hindenburg said, adding that failure to disclose basic details about the margin loans represent a “near-term critical threat to IEP unitholders”. The short seller said Icahn’s latest disclosures raise critical new questions about margin loans and continued portfolio losses, sending the investment firm’s shares down 4% in premarket trading.
prosecutors, though it was not clear if it was related to the short seller’s allegations made last week. Career Development Advancement Opportunities NewStream Enterprises prides itself on developing talent from the bottom up, and we always strive to hire from within. Hindenburg’s latest move comes a day after the company reported a surprise loss and disclosed it was contacted by U.S. At NewStream Enterprises, LLC, we build leaders and business people through specialized training and education at all experience levels.
(Reuters) -Short seller Hindenburg Research on Thursday took a short position in Icahn Enterprises LP bonds and said the investment firm led by billionaire Carl Icahn has failed to address every issue it had raised.
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