Hindenburg Research: US firm that accused Gautam Adani's company of fraud shuts down

Nate Anderson, the founder of Hindenburg Research, announced on Wednesday that he was disbanding the company almost eight years after starting it.

The firm had made headlines in India in 2023 after publishing explosive reports about billionaire Gautam Adani's conglomerate, sparking political rows and major losses for the company.

Started in 2017, Hindenburg Research shot to fame for exposing alleged financial irregularities in some big-name businesses. The firm's reports have led to businesses, both in India and abroad, losing billions of dollars in market value.

"Nearly 100 individuals have been charged civilly or criminally by regulators at least in part through our work, including billionaires and oligarchs. We shook some empires that we felt needed shaking," Mr Anderson wrote in the statement where he announced his decision