Hindenburg Research, a US investment firm founded by Nate Anderson, has announced its shutdown due to completion of ongoing projects. The firm’s investigations have resulted in significant market value losses for several companies, including the Indian conglomerate Adani Group.
In 2020, Hindenburg exposed electric truck manufacturer Nikola, revealing misrepresentations about its technological capabilities. The firm has also targeted other prominent companies such as Adani Group, Icahn Enterprises LP, Block Inc., and J&J Purchasing. Their investigations have contributed to regulatory actions against approximately 100 individuals, including wealthy businesspeople and oligarchs.
Hindenburg’s accusations against Adani Group led to a significant decline in the group’s market capitalization, but they largely recovered most of their losses. The firm also accused SEBI Chairperson Madhabi Puri Buch and her spouse Dhaval Buch of having interests in offshore entities connected to alleged Adani money siphoning.
The short-seller’s work has had notable consequences, including a US court finding Nikola’s founder guilty of lying to investors and Carl Icahn’s personal wealth declining by $2.9 billion. Hindenburg Research shut down as planned after completing their pipeline of ideas, marking the end of an era in corporate accountability through investigative journalism.
Source: https://timesofindia.indiatimes.com/business/india-business/hindenburg-research-shut-down-here-are-7-giants-the-us-short-seller-targeted-in-7-years/articleshow/117325625.cms