Federal prosecutors opened an inquiry into Carl Icahn's investment company, the day after a short seller's report said the firm was inflating the value of its assets, the company disclosed on 10 May.

Icahn Enterprises, the publicly traded firm controlled by Icahn, was targeted by short-seller Hindenburg Research early this month. The next day, the US Attorney's Office for the Southern District of New York contacted Icahn Enterprises asking for information about corporate governance, dividends and other topics, the firm said in a securities filing on 10 May.