Thu, 16 Jan 2025

US firm that accused Adani Group of fraud shuts down

Nate Anderson, the founder of Hindenburg Research, has announced his decision to disband the company.
Hindenburg Research, a US-based short-seller known for exposing financial irregularities in top companies worldwide, will be shutting down after nearly eight years of operations. Founder Nate Anderson announced the decision without giving a specific reason, but expressed his desire to focus on personal life and spend more time with family and friends. Under Anderson's leadership, Hindenburg Research gained international recognition for publishing reports that led to billions of dollars in losses for companies accused of fraud. The firm's reports have also resulted in regulatory actions against numerous individuals, including billionaires and oligarchs. Hindenburg Research made headlines in India in 2023 with a report accusing Adani Group of "brazen" stock manipulation and accounting fraud. The allegations led to a significant loss in market value for the conglomerate, although its financial health has since recovered. Anderson also announced plans to open-source Hindenburg's research methodology in the coming months, making it available for public access.
  >>