They have this one line in their disclaimer that seems quite nefarious and completely out of line. Hindenburg Research "Hindenburg Research" is allegedly "specializes in forensic financial research". A stock researcher and investor, Mr. Anderson and his upstart firm, Hindenburg Research, are having a moment. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Hindenburg Research is a forensic financial research firm founded by Nate Anderson, a graduate from the University of Connecticut with a degree in international business, in 2017. Both Hindenburg Research and Nate Anderson feature in the DoJ's requests for information. Nates killing it right now, said Mr. Block of Muddy Waters. Pefectly fine, it's up to people to read and believe whatever they want. But it was very hard early on to fathom that anything would turn out of it.. Both Hindenburg Research and Nate Anderson feature in the DoJ's requests for information. Mr. Anderson, 37, is the son of a college professor and a nurse who grew up in a small town in rural Connecticut and earned a business degree from the University of Connecticut. The company was halted by the SEC in late April 2020 for claims about COVID-19 tests and now trades on the Grey Sheets. And both of those lawsuits one by China-based real estate developer Yangtze River Port and Logistics Ltd; the other by Bollywood film producer Eros International Plc were tossed in 2019. Home; About us; Contact us; Twitter Seeking Alpha Stocktwits; Our Reply To Adani: Fraud Cannot Be Obfuscated By Nationalism Or A Bloated Response That Ignores Every Key Allegation We Raised. specifically pointed out issues relating to the companys accounting around its service agreements. The governments actions were a testament to the role of short sellers and critical researchers in fostering a well-functioning stock market, he wrote on Twitter. The companys CFO later resigned and was charged by the SEC in 2018 for allegedly participating in pump & dump schemes. Looks like you have exceeded the limit to bookmark the image. Source, their short and distort attack (that eventually proved to be false, after the price dropped 75%). The short seller, in fact, is so confident about its research that last August, it filed its own defamation suit against a biopharmaceutical company that pushed back after a Hindenburg research report asserting that an inventor with close ties to the company was a lifelong con artist.. About four months later, in October 2020, NASDAQ delisted WINS specifically due to the undisclosed asset freeze Press J to jump to the feed. Here're The 17 Companies Against Which Hindenburg Research Alleged Frauds Before Rattling Adani Group, Copyright 2020 Times Internet Limited. The Hindenburg had made its first flight from Germany to the U.S. a year earlier, in May 1936. I think my spaceship knows which way to go http://www.clarityspring.com/nathan-anderson-ceo/, https://www.barrons.com/articles/marijuana-stock-aphria-down-on-short-seller-report-1543855963. Well, the answer is no. wrote a series of articles about Riot Blockchains (NASDAQ:RIOT) suspicious acquisitions that appeared designed to benefit insiders. It has since lost ~90% of its value. half star out of 5. Founded in 2017, Hindenburg specializes in publishing detailed reports about publicly traded companies, poking holes in their stories and alerting investors to potential malfeasance. Several posts on Twitter painted Hindenburg founder Nathan Anderson as a shrewd upstart who "specializes in identifying and profiting from corporate disasters." Divgi TorqTransfer IPO: GMP rises, 2 more days to bid. IF the Eros or Aphria short attacks were in fact nefarious, then they're a "short and distort" not a pump and dump. originally raised in Hindenburg You are now subscribed to our newsletters. Hindenburg was subsequently dismissed. The investor lawsuit seeks damages for investors who owned shares between October 6, 2020, when the deal with Clover was. Also mentioned on page 28, point 39: "Defendant John Doe No. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. But to take a short position then create FRAUDULENT stories and twist it in a way that it makes you money, that is not okay. Once again, insiders later admitted to having undisclosed stakes in its own acquisitions, leading to the resignation of the companys Chairman/CEO, a co-founder, and an executive/board shake-up. Disgusting. Before working with digital news publications, he worked as a freelance content writer. Hindenburg [16] In November 2020, Nikola stated that they had "incurred significant expenses as a result of the regulatory and legal matters relating to the Hindenburg Report.[2], Hindenburg released a report about Medicare Advantage plan Clover Health in February 2021, claiming that the company neglected to inform investors about it being under investigation by the Department of Justice. Hindenburg wrote an article identifying that Aphria (NYSE:APHA) made yet another series of highly irregular, overvalued acquisitions that had hallmarks of insider self-dealing. Updated: 07 Feb 2023, 06:47 AM IST Livemint Adani Group has seen wealth erosion of about $118 billion, or more than half of the market value of its companies since the report. Hindenburg redoubled Subscribe to Indiatimes and get handpicked updates based on your interests! Disgusting. The private company goes public through the process. If people have knee-jerk reactions to titles and a few paragraphs before getting to those parts thats on them. As one post put it, they were not specialists who exposed fraudulent activity - they themselves were frauds." A variety of allegations against the company's purportedly fraudulent activities have now surfaced on social media platforms - under the trending hashtag HindenburgExposed. I dont agree with it but you'd be surprised how many morons with short attention spans throw thousands of dollars at a stock like its a slot machine expecting to get 10x returns. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Short sellers see themselves as financial detectives, sniffing out corporate wrongdoing or inflated stock prices. [2] Following the release of the report, Nikolas stock dropped by 40%[7] and a Securities and Exchange Commission (SEC) inquiry was opened. In case you cant find any email from our side, please check the spam folder. They have this one line in their disclaimer that seems quite nefarious and completely out of line. Before Adani Group, the Nathan Anderson-foundedHindenburg Research firm had a track record of pointing out frauds in 17 companiesin the past six years. Moreover, he said that the Adani Group had attached relevant documents in support of each answer. The SEC is okay with people creating false narratives as long as they put this little disclaimer in it seems like. Couldn't agree more with this. Hindenburg Research, the short-seller firm whose report on Nikola Motor led to an SEC investigation and the resignation of its founder, is targeting another electric vehicle company. By the end of July, just under two months later, shares were trading at $1.50, a decline of almost 80%. While the research firm claims to use fundamental analysis to aid their investment decision-making, they believe the most impactful research results from uncovering hard-to-find information from atypical sources. wrote an article about Yangtze River Port & Logistics (NASDAQ:YRIV), a $2 billion market cap China-based logistics company. Even an investor or a ministry or even the Attorney-General for India can file a case, civil or criminal, based on such understandings. Create an account to follow your favorite communities and start taking part in conversations. See for yourself: http://www.clarityspring.com/nathan-anderson-ceo/, Anderson is mentioned by Grego here as well The idea for his Aphria short, Grego said, came from researcher Nathan Anderson, who published his own report on Aphria Monday morning on SeekingAlpha, under the moniker Hindenburg Investment Research., Link: https://www.barrons.com/articles/marijuana-stock-aphria-down-on-short-seller-report-1543855963, We are missing the entire subpoena, so it is unclear who was part of Hindenburg - but the wording in the table of content implies multiple players were using the name as a vehicle in their short and distort attack (that eventually proved to be false, after the price dropped 75%), EDIT: Anderson published his aphria piece on SA under the Hindenburg banner, but its unclear based on this partial subpoena if he was ever part of the original Hindenberg group. Singh said, even though it took the company 2-3 days to reply, it did reply sufficiently. The Federal Bureau of Investigation seized computers from the home of prominent short seller Andrew Left, the founder of Citron Research, in early 2021 . Actually pumping is illegal. Some of these companies we have looked at, they dont have any revenues at all., A Skeptical Stock Analyst Wins Big by Seeking Out Frauds, https://www.nytimes.com/2021/08/16/business/short-seller-wall-street-scams-hindenburg.html. Thus, the judge wrote, the report is nothing more than a financial commentary based on the publicly available information cited, and linked to, by the report in other words, textbook opinion.. "Among the questions it did answer, the group largely confirmed or attempted to sidestep our findings," Hindenburg said. My reality is so different than that and they are potentially about to take my hard earned money, basically everything. Yangtze sued Hindenburg, founder Nathan Anderson and a sister company, ClaritySpring Inc, for defamation in New York State Supreme Court in Manhattan, where Hindenburg is based. https://imgur.com/a/grPPH0L 12 37 comments Published on January 29, 2023 January 30, 2023 Read Report. The losses follow a US-based short seller firm - Hindenburg Research - publishing a 100-page report on the Adani Group, accusing . See here for a complete list of exchanges and delays. All rights reserved, Hindenburg wrote about China Metal Resources Utilization, calling it a zombie company with 100% downside, Hindenburg hadreleased a report titled Nikola: How to Parlay An Ocean of Lies Into a Partnership With the Largest Auto OEM in America, Hindenburg wrote about China Metal Resources Utilization, calling it a . Hindenburg Hindenburg The SEC has launched an investigation into Hindenburg's claims. Hindenburg Copyright 2022 HT Digital Streams Ltd All Right Reserved, Adani Enterprises shares plunge on block deal buzz, Sebi bans Alchemy Capital founders from market for a year. On Thursday, federal prosecutors in Manhattan charged the 39-year-old Nikola founder with securities and wire fraud, and accused him of promoting "a false and exaggerated narrative" about the company through social media, on television . [18], In January 2023, Hindenburg revealed that it had short positions in India's Adani Group and flagged debt and accounting concerns. Adani Enterprises . Yangtzes lawyer from Sichenzia Ross Ference did not respond to my query. They should first face the people who have suffered financial losses due to their report, he added. Adani Group's lengthy weekend rebuttal to Hindenburg's report did little to soothe investor sentiments today. A reasonable reader, he said, would understand that they were sharing opinions about Eros based on news about the company.. 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