US short-seller Hindenburg to be disbanded, founder announces shut down
Reflecting on the firm's achievements, Anderson shared, "We shook some empires that we felt needed shaking. When I started this, I doubted I was capable," he admitted.
PTC News Desk: The US-based short seller Hindenburg that targeted several business entities including Adani group and wiped out billions from his company is going to be disbanded. Founder Nate Anderson on Wednesday announced shut down of the
"I have made the decision to disband Hindenburg Research. The plan has been to wind up after we finished the pipeline of ideas we were working on," he said in a heartfelt note on the Hindenburg website.
The decision to shut down Hindenburg comes days before Trump assumes office. However he noted that there has been no particular threat or personal issue behind this decision to wind up. Ever since its inception in 2017, Hindenburg has gained significant momentum often known for exposing frauds, mismanagement across various entities.
Reflecting on the firm's achievements, Anderson shared, "We shook some empires that we felt needed shaking. When I started this, I doubted I was capable," he admitted.
"I didn't have a traditional finance background. None of my relatives are in this field. I went to a state school. I'm not a slick salesperson. I don't know any of the right clothes to wear. I can't play golf," he added.
Hindenburg targeted Gautam Adani's empire in 2022 and published a startling report titled 'Adani Group: How the Worlds 3rd Richest Man is Pulling the Largest Con in Corporate History'. The report accused the Indian conglomerate, led by billionaire Gautam Adani, of engaging in extensive financial fraud and stock price manipulation, shaking the foundations of India's financial markets.
However the corporate giant while refuting the claims said that it was a lie and 'calculated risk' on India.