Why Hindenburg Research Company Closed: American short selling firm Hindenburg Research, which defrauded Gautam Adani of billions of dollars, has been closed. Company founder Nathan Anderson himself has announced this. This company had published a report in January 2023, in which many allegations were made against the Adani Group.
Adani Group had denied these allegations but this led to a huge decline in the group’s market cap. Anderson has not disclosed the reasons for closing the company, but this decision has been taken at a time when Donald Trump is returning to America after becoming President on January 20.
Hindenburg Research, notorious for its short selling activities, caused huge losses to many other billionaires besides Adani. Company founder Nathan Anderson announced this on January 15.
“Late last year, I shared with family, friends and our team that I have decided to dissolve Hindenburg Research,” Anderson said.
He told that the plan was to close the company after the investigation related considerations were completed. The firm recently completed its last projects related to Ponzi schemes. After this the research activities of the company have ended.
huge loss to adani
Hindenburg Research’s name came into limelight in India in January 2023 when it presented a report on Adani Group, the country’s third largest industrial house. In this, many allegations were leveled against the group including manipulation in the price of shares.
The group denied these allegations but this led to a huge fall in the shares of Adani Group. However, since then the group has recovered much of this loss.
Anderson’s announcement of closing Hindenburg Research is shocking. Recently, a member of the US House Judiciary Committee and a Republican lawmaker requested the Justice Department to preserve all documents and communications related to the investigation of Adani and his companies.
Anderson did not give any reason for closing Hindenburg Research, but this decision has come at a time when Donald Trump is going to return to the White House in a few days.
Why Hindenburg Research Company Closed: Anderson’s Plan
Regarding the decision to close Hindenburg Research, Anderson said, ‘There is no specific issue – no specific risk, no health issue and no major personal issue. Someone once told me that at a certain point a successful career becomes a selfish act.
He said that he had to make many sacrifices in his personal career. In an interview he said that he has accumulated enough money to further his financial security. He has also indicated to invest in less risky investments in future.