Hindenburg News: Short-seller Nate Anderson opens up on shutting shop, stands by Adani report

Nate Anderson, founder of the now defunct US-based short-seller Hindenburg Research, said the decision to close his firm was not driven by any legal or other threat but due to workload, PTI reported. 

Nate Anderson also said that he stands by all of the company's reports including the most popular one on Adani Group titled “Adani Group: How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History.”

Anderson said that the report published in January 2023 accusing Adani Group of the largest “con” in corporate history was fuelled by the “red flags” cited in the media reports. Adani Group has denied all the Hindenburg Research allegations and claims. 

“Hindenburg is basically synonymous with me,” Anderson told the news agency. “If it was a software application or a bicycle factory you can sell the application or the factory. But when it's research driven by me, you can't really just hand that off, and so I would not actually be 'done'. But I am happy to support the team if they want to launch a new brand, which I expect they will,” he said.

According to the news report, Nate Anderson blamed the “intensity and focus” for shutting down the operations of Hindenburg Research. 

Nate Anderson spent the last eight years fighting corporate battles or preparing for the next fight. According to the report, he was often trailed and even faced attempts to infiltrate the company's system.

“As to why I retired - it is all in the letter (released on January 16 that announced shutting down of Hindenburg) - it is not based on any threat, health issue, personal issue or otherwise,” Nate Anderson told the news portal.

On the Adani report front, Nate Anderson said, “We 100 per cent stand by all of our research findings.”