Carl Icahn's empire took another hit on Wednesday when his holding company's shares plunged further in the aftermath of a critical report from short seller Hindenburg Research, bringing the valuation drop since the short seller attacked it to more than $6 billion.
and relying on a "Ponzi-like" structure to pay dividends. Icahn called the report "self-serving" and he stood by IEP's statements about its finances. He did not respond to a request for comment on Wednesday.
IEP is scheduled to report its first-quarter earnings on Friday, restricting its ability to comment in detail on its finances in advance.
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