Nate Anderson, the founder of the now-defunct US-based short-selling firm Hindenburg Research, informed the news agency PTI that the closure of his company was not prompted by any legal threats but rather by the demands of his workload. He affirmed his confidence in all of the firm’s reports, particularly the widely discussed one regarding the Adani Group, titled “Adani Group: How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History.” Anderson noted that the January 2023 report, which accused the Adani Group of orchestrating a significant corporate deception, was influenced by various “red flags” highlighted in media coverage.
The Adani Group has categorically denied all allegations made by Hindenburg. Anderson remarked, “Hindenburg is basically synonymous with me.” He explained that while a software application or a factory can be sold, research driven by his insights cannot simply be transferred, indicating that he would not be completely “done.” He expressed willingness to support his team if they choose to establish a new brand, which he anticipates they will.
According to the report, Anderson attributed the decision to cease operations to the “intensity and focus” required in his role. Over the past eight years, he has been engaged in corporate battles and preparing for future challenges, often facing scrutiny and even attempting to penetrate corporate systems.
Regarding his retirement, Anderson stated, “It is all in the letter (released on January 16 that announced the shutdown of Hindenburg) – it is not based on any threat, health issue, personal issue or otherwise.” He reiterated, “We 100 percent stand by all of our research findings,” emphasizing his commitment to the integrity of their work.
