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Context:
U.S.-based shortseller Hindenburg Research will be disbanded, its founder Nathan Anderson has said, adding that the firm has completed the projects it was handling.
- Reason
- The reason is the “intense” and “all-encompassing” nature of the work, founder Nathan Anderson said.
- Hindenburg’s report on Adani Group
- Hindenburg’s 2023 report claims the Adani Group engaged in stock manipulation, accounting fraud, and misuse of offshore tax havens to inflate group share prices artificially.
- Such a report had heavy market impacts, wiping out over $150 billion in value of Adani Group’s shares.
Hindenburg Research
Hindenburg Research LLC is a US investment research firm founded in 2017 and focuses on activist short-selling. Named after the 1937 Hindenburg disaster, the company released public reports alleging corporate fraud and malfeasance against companies like Super Micro Computer, Adani Group, Nikola, Clover Health, Block, Inc., Kandi, and Lordstown
