Hindenburg research that accused Gautam Adani of fraud, closes down

Hindenburg Research, the firm known for its high-profile report on Indian billionaire Gautam Adani, announced its closure on Thursday. The company gained global attention after its 2023 investigations into the Adani Group led to a $150 billion selloff in the conglomerate’s shares. The impact of Hindenburg’s report wiped billions off Adani’s wealth, leading to a wave of financial scrutiny, though Adani and his companies have consistently denied the allegations.