Hindenburg vs Icahn: Battle Over Bonds Heats Up Amid Federal Investigation

Short seller Hindenburg Research has initiated a short position in Icahn Enterprises bonds, accusing the investment firm led by billionaire Carl Icahn of failing to address key issues it had raised. Hindenburg had criticized the investment firm of over-reporting its finances and accused it of relying on a "Ponzi-like" structure to pay dividends. Icahn called the report "self-serving" and vowed to take steps to "fight back". Hindenburg's reports are a setback for Icahn, a pioneer of shareholder activism known for taking on heavyweights such AIG and McDonald's Corp.