It was not yet clear whether the interest from federal prosecutors was related to Hindenburg's allegations that Icahn Enterprises LP Still, it was a setback for Icahn, a pioneer of shareholder activism who is noted for dressing down companies over their governance and transparency, but has not fielded such scrutiny himself., IEP shares have lost close to 40% of their value -- almost $7 billion -- and the net worth of Icahn, who owns 85% in IEP, has shrunk by a similar amount to $10 billion.
The company said it was cooperating with the request, and that the U.S. Attorney's office has not made any claims or allegations against it or Icahn.Icahn has called Hindeburg's report "self-serving" and he reiterated his defense of IEP on Wednesday. "Hindenburg Research, founded by Nathan Anderson, would be more aptly named Blitzkrieg Research given its tactics of wantonly destroying property and harming innocent civilians," he said in a statement.
While the company said it would maintain its first-quarter dividend at $2 per unit, its first-quarter loss and the prosecutors' queries raised new questions among some investors and legal experts about the company's ability to sell stock down the line. IEP posted a net loss of $270 million, with the bankruptcy of its car parts distributor IEH Auto Parts Holding resulting in a one-time, non-cash charge of $226 million.
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