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Hindenberg Research Shuts Down: American short seller Hindenburg Research is now closed. Company founder Nate Anderson has made this announcement. This is the same Hindenburg Research which had released a research report against Adani Group in January 2023, after which a sharp fall in the shares of Adani Group was seen.
Why did the head of Hindenburg Research take this decision?
Nate Anderson said in his statement, “I shared with family, friends and our team late last year that I have decided to dissolve Hindenburg Research. The idea was to spin off the company after completing its pipeline of investigative ideas, Anderson said. Hindenburg Research recently completed its last projects related to Ponzi schemes, bringing its activities to a halt.
A Personal Note From Our Founderhttps://t.co/OOMtimC0gV
— Hindenburg Research (@HindenburgRes) January 15, 2025
Adani Group was accused of fraud
America’s Hindenburg Research LLC, while short selling Adani Group’s stock in January 2023, had claimed that Adani Group’s stocks are 85 percent more expensive than their fair valuation. Hindenburg Research in its report had also accused the group of market manipulation and accounting fraud. After this report came out, there was a big fall in the shares of Adani Group. After this, the market cap of Adani Group shares had fallen by more than Rs 10 lakh crore. After this report came out, the follow-on public offer (FPO) of Rs 20,000 crore of Adani Enterprises had to be cancelled.
Adani Group had denied the allegations
In its response to the report of Hindenburg Research, Adani Group said that we are surprised by the report published by Hindenburg Research because they have published this report without contacting us or verifying the correct facts. Adani Group said that this report is a malicious mixture of selective misinformation and stale, baseless and defamatory allegations which have been tested in the Supreme Court of India and have been rejected by the Court. Adani Group had also raised questions on the timing of the report.
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