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US Firm Behind Adani Scandal Investigation Announces Closure

The U.S. firm Hindenburg Research, known for its short-selling strategies and for sparking a significant controversy with its report on the Adani Group, has announced its closure. The report accused the Adani Group, led by billionaire Gautam Adani, of engaging in stock manipulation and accounting fraud, leading to a massive $150 billion drop in the conglomerate's market value. Despite the Adani Group's rebuttal and a Supreme Court panel's finding that no regulatory failure was evident, the fallout from the report has been substantial. Hindenburg Research, which has now decided to shut down, stated that the closure was due to the completion of their mission to expose corporate malfeasance, although they did not specify if this was directly related to the Adani episode. The firm's actions have had a lasting impact on financial markets and regulatory scrutiny in India.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/us-firm-behind-adani-scandal-investigation-announces-closure/ar-AA1ximDC ]