Icahn Woes Mount as Federal Inquiry Adds to Short Seller Hit (4)

Investors wiped as much as $2.3 billion off the market value of Carl Icahn’s investment firm Wednesday after it disclosed a federal inquiry into its practices, adding to the pressure that a short-seller attack has been putting on the stock since last week.

The US Attorney’s office for the Southern District of New York is seeking information on Icahn Enterprises LP’s corporate governance, securities offerings, dividends and due diligence, among other materials, according to a filing. Icahn Enterprises said it was cooperating.

Separately, the firm hit back in detail for the first time against short-selling firm Hindenburg Research ...