Lucknow Press
In a recent turn of events, US short selling firm Hindenburg Research has announced a shut down in their operations. The firms founder, being Nathan Anderson, has cited reasons behind closing the firm although he hasn’t disclosed much about it. This firm had actually stood in the eye of the storm when making allegations against Adani Group of India and Gautam Adani, the industrialist of India.
Short selling firm Hindenburg Research had been founded in the year of 2017 by Nathan Anderson with the aim of countering and bringing attention to the investment fraud of multinational corporations. A number of big companies faced accusations from this relatively new business; among them were Adani Group and Icahn Enterprises. In India, the name Hindenburg Research came into vision in Jan 2023 when the company was blabbing about the Adani firm tweaking its share price, along with many other baseless charges. The Hindenburg report was immediately rejected by the Adani group, resulting in drastic drops in their shares.
Last year, Hindenburg accused SEBI Chairperson Madhabi Puri Buch along with her husband for allegedly holding investment in foreign funds associated with Adani. A Republican MP, a member of the US House Judiciary Committee, contacted the Justice department asking to keep records of documents and communications regarding the inquiry on Adani and his companies. Nonetheless, Hindenburg’s unexpected decision to close all of his activities is something nobody expected.
Hindenburg Research’s Nathan Anderson has chosen to delete the personal records of Hindenburg, claiming that the reason for it’s closure has been met. Nathan Anderson also claims, “I have made up my mind to excuse myself from Hindenburg, this is known to my gatherers, colleagues and the people in my cycle since the last year. Our aim was to completely close these projects as soon as we finished with certain ideas we had in mind. And that day is today.”
