Hindenburg Research, a US-based short-selling firm known for targeting multiple businesses, including the Adani Group, is set to shut down, according to its founder Nate Anderson.
In a message posted on the Hindenburg website, Anderson stated, “I have decided to disband Hindenburg Research. We planned to wind down after completing the projects we were working on.” He emphasized that no specific threat or personal issue was prompting this decision.
The firm made headlines in 2022 when it accused the Adani Group of wrongdoing, which the group dismissed as “nothing but a lie” and described as “calculated attacks on India.” In August 2024, Hindenburg launched another round of accusations against the conglomerate, which responded by labeling the claims as “recycled allegations” that had previously been rejected.
Gautam Adani, chairman of the Adani Group, later reflected on these attacks, stating they provided him with a “profound lesson.” He noted that their leadership was most evident during the financial assault in January of the previous year, which he characterized as a coordinated effort to undermine their financial stability and involve them in a political crisis.
Hindenburg Research has also previously targeted Madhavi Puri Buch, head of India’s market regulator, and her husband, who referred to it as an “attempt at character assassination.”
