New Delhi, Jan. 16 -- Nate Anderson, the founder of Hindenburg Research, announced plans to shut down the US-based investment research firm, which gained attention for its short-selling activities and reports that led to the loss of billions of dollars for Indian billionaire Gautam Adani-led Adani Group.

January 2023: The US-based short seller Hindenburg Research released its original report on January 24, 2023, against the Adani Group, titled 'Adani Group: How The World's 3rd Richest Man Is Pulling The Largest Con In Corporate History'. The report alleged that the conglomerate was "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades". Hindenburg also accused the Adani family members of creating ...