Embattled activist investor Carl Icahn's firm plunges 30% after halving shareholders' payouts
The short seller attacked Icahn Enterprises on May 2, disclosing they were betting against the firm's stock and bonds.
"Icahn has been using money taken in from new investors to pay out dividends to old investors," Hindenburg said."Such ponzi-like economic structures are sustainable only to the extent that new money is willing to risk being the last one 'holding the bag'." Icahn has disputed Hindenburg's allegations several times in the three months since, accusing the firm's founder Nathan Anderson of running"disinformation campaigns" and pledging to"fight back" against the report.
Icahn Enterprises has plunged 53% since May 2, wiping just under $15 billion off of Icahn's personal fortune per the
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