New Delhi: Weeks after releasing reports on alleged stock manipulation and accounting fraud scheme by Indian conglomerate Adani Group, financial research firm Hindenburg Research on Thursday said that it would release another new report soon.
Hindenburg Research has tweeted, “New report soon—another big one”. The US-based short seller has however not divulged any details –like the company, group, timing of the report’s release — in its tweet.
New report soon—another big one.
— Hindenburg Research (@HindenburgRes) March 22, 2023
Hindenburg Research had in January this year come out with reports on Adani’s brazen stock manipulation. The financial research firm had cited two years of research, including talks with former Adani senior executives and reviews of thousands of documents.
The Adani Group had however in a series of rebuttal blasted the accusations, calling them a malicious combination of selective misinformation and stale, baseless and discredited allegations.
Meanwhile, Gautam Adani, the founder of the Adani Group, has lost massive wealth as a result of the explosive Hindenburg charges.