Business news, resources, research, and investment discussion for publicly traded cannabis related stocks. While the Hindenburg vs. Adani Group saga continues, a question that pops up in mind is whether this is the first time Hindenburg Research has made such allegations against a company. It is not a court decision. Well, the answer is no. I find that horrible. https://discord.gg/pennystocks, Press J to jump to the feed. Also, as another user pointed out, that phrase doesn't apply here. Ordinary investors hate them because their investments can suffer. The war of words between Hindenburg Research and Adani group escalated on Monday after the US-based short seller shared its rebuttal to Gautam Adani-led conglomerate's 413-page response to . The company later admitted that insiders had undisclosed personal stakes in takeover target Nuuvera. Is Hindenburg Research under investigation in the US? Can he win the perception war? Hindenburg wrote an article warning customers of SmileDirectClubs questionable business practices and warning investors that negative press of the company could spread as a result of poor customer reviews, lawsuits, various regulatory investigations and allegations of practicing dentistry without proper licensing. Hes become a real giant killer, said Frank Partnoy, a former derivatives trader who is now a professor of securities law at the University of California, Berkeley, School of Law. The 3-day selloff has now erased nearly $65 billion market value amid a share sale by . They kind of deserve it at that point. first wrote about the company less than a year earlier, it had a market cap of ~$1 billion. His lucky break came in December 2018, when he wrote a report with a hedge fund on the medical cannabis company Aphria. Hindenburg takes profits if the target company's share price declines. Months after A place to lose your money with the help of friends and likewise degenerates. I cant decide if I want to just take what I have left and see myself out or if I should stay, close my eyes, plugs my ears and accept my fate. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. [12][13], In September 2020, Hindenburg Research published a report on the Nikola Corporation that included allegations of the company being "an intricate fraud built on dozens of lies" and argued that its founder, Trevor Milton, was responsible for much of the fraudulent activities. How A United Kerala Overcame The Worst Flood In A Century And What We Can Learn From It, 'I Would Only Travel In Auto,' Manoj Bajpayee On Buying His First Car Eights Months After Satya, Bride Dies Of A Heart Attack On Her Wedding Day In Gujarat's Bhavnagar, Sister Marries The Groom, 'Itna Showoff', Internet Reacts To Urvashi Rautela Spending Rs 93 Lakhs For Her Birthday Bash, Cricketer Virat Kohli Says His Wife Anushka Sharma Has Made Massive Sacrifices As A Mother, From JP Morgan To Goldman Sachs: Analysts Predict Indian Stock Market's Performance For 2023, Google India Employee Gets Laid Off After Earning 'Star Performer' Award, Asks 'Why Me? [11], Hindenburg Research prepares its investigation report on a target company in six or more months by going through its public records and internal corporate documents, as well as talking to its employees. Following Short sellers see themselves as financial detectives, sniffing out corporate wrongdoing or inflated stock prices. Singh has also said that the company answered all the questions raised by US short seller Hindenburg Research. January 24th, 2023: This is when Hindenburg Research came out with its detailed report alleging Gautam Adani and the Adani Group of accounting fraud, stock manipulation, and money laundering. Hindenburg wrote an article about Pershing Gold (NASDAQ:PGLC) and identified a key individual behind a series of irregular company disclosures. Shares fell more than 90%. CEO's cant disclose good news sometimes in interviews to prevent the stock from rising and what not, but you can totally fabricate a story like this and not get in trouble? findings. Its the first amendment right to give your opinion. Hindenburg [14] While Milton initially disputed the allegations,[14] he later resigned from his position as Executive Chairman[15] and was eventually found guilty of wire and securities fraud. The industry leader for online information for tax, accounting and finance professionals. At the same time, they build a short position in the stock, borrowing shares of a target company from a brokerage firm and then selling them, expecting the stock price will fall on account of their negative research. Singh said, even though it took the company 2-3 days to reply, it did reply sufficiently. Hindenburg was subsequently dismissed. Hindenburg has a track-record of finding corporate wrongdoings and placing bets against the companies..Adani Group . Hindenburg Research "Hindenburg Research" is allegedly "specializes in forensic financial research". this stock is a classic pump and dump. Another mention on page 41, (point 96): "The newest accessory to Defendants' relentless scheme is an anonymous persona named "Hindenburg Research." We Say, Yes! As a subscriber, you have 10 gift articles to give each month. Log in to our website to save your bookmarks. Losses across Gautam Adani's main businesses hit $107 billion by 10 a.m. London time on Thursday since the Jan. 24 publication of an extensive critical report from New York's Hindenburg . Adani firms lose $65 billion in value as U.S. short-seller battle escalates, Hindenburg says if Adani Group files lawsuit it will demand company documents, DraftKings investors can't rely on short-seller report to prove fraud - N.Y. judge. By Alison Frankel (Reuters) - In the midst of a market rout last week that stripped Indian conglomerate Adani Group of $65 billion in market capitalization, Adani announced that it was contemplating "remedial and punitive action" against Hindenburg Research, the short seller whose scathing Jan. 24 report sparked the sell-off. Jump To Hindenburg Vs. Adani Group What Does Hindenburg Research Do? Hindenburg IF the Eros or Aphria short attacks were in fact nefarious, then they're a "short and distort" not a pump and dump. Hindenburg hadreleased a report titled Nikola: How to Parlay An Ocean of Lies Into a Partnership With the Largest Auto OEM in America that, with the help of whistleblowers and former employees, called out a vast array of alleged lies and deceptions by Nikola in the years leading up to its proposed partnership with General Motors. The activist short-seller behind Hindenburg Research has become known for research that sends companies stock sinking. But proving falsity of fact might be a difficult task in a case like this, Gutterman said. Also mentioned on page 28, point 39: "Defendant John Doe No. Who does Andy work for? Today, Hindenburg employs a mix of former journalists, including from Bloomberg and CNN, and analysts, who have all been working remotely during the pandemic. Mr. Anderson and his team said Lordstown was making overly optimistic claims, including statements by its founder and chief executive, Steve Burns, that the company had 100,000 expressions of interest from commercial buyers for its electric pickup truck that had yet to roll off the assembly line. So this is a good time to buy in then right? Electric Truck Partner, Quits Amid Fraud Claims", "Nikola founder Trevor Milton found guilty of fraud over statements he made while CEO of the EV company", "Palihapitiya-backed Clover Health shares fall on critical report by short seller Hindenburg Research", "Chamath Palihapitiya-backed Clover Health gets notice of SEC investigation", "Adani Group: how the world's 3rd richest man is pulling the largest con in corporate history", "Hindenburg shorts India's Adani citing debt, accounting concerns; shares plunge", "A Short Seller Takes Aim at an Indian Corporate Giant", "Adani shares take $10.8bn hit after Hindenburg bets against group", "Adani Group firms lose $9bn in value amid short-seller claims", "US activist investor who accused Adani of 'biggest con in corporate history' dares Indian group to sue", "DraftKings stock falls after Hindenburg Research reveals short position", "Ormat shares drop after short-seller Hindenburg attacks energy company", "MULN stock falls further after negative Hindenburg report", "Short-sellers take aim at Chinese blockchain firm SOS, shares tumble", "Short-seller Hindenburg sets $1m 'bounty' for details on Tether's reserves", "Hindenburg Research Announces $1,000,000 Bounty For Details On Tether's Backing", https://en.wikipedia.org/w/index.php?title=Hindenburg_Research&oldid=1141755758, Research and analysis firms of the United States, Financial services companies established in 2017, Financial services companies based in New York City, Short description is different from Wikidata, Pages using infobox company using trading name, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 26 February 2023, at 16:55. Mr. Andersons five-person firm, which takes its name from the German airship that blew up in 1937, is a newbie in the world of finance. Its what they bank on and it works. "While we use fundamental analysis to aid our investment decision-making, we believe the most . If Adani is talking about a lawsuit in the U.S., Ill believe it when I see it. Our Standards: The Thomson Reuters Trust Principles. Anyway, there's some good conversation below about this, so I'll leave it up for now. Hindenburg Hindenburg pointed out that Nikolas In Motion promotional video for its Nikola One semi was nothing more than the truck being rolled down a hill in the Utah desert, a claim the company later admitted. Last month, federal authorities charged the founder of the electric vehicle manufacturer Nikola, which had gone public in the summer of 2020, with defrauding investors. Stock market means nothing economic crash worldwide imminent. originally raised in On my streams I have one thats like By using this info you agree to hold harmless for inaccuracies or discrepancies basically just protects me from someone being like Trev said it would go to $5! Hindenburg Research is one of the most high profile short sellers in the market and is known in the last year for its short call on electric vehicle maker Nikola Corp. Nikola founder Trevor. wrote a series of articles about Riot Blockchains (NASDAQ:RIOT) suspicious acquisitions that appeared designed to benefit insiders. Tour their lieshope every single one of them has evil visit them and destroy them. its efforts with numerous additional findings. Eros seem to be linking everybody who says mean things about the company on SeekingAlpha as "conspirators", and moaning that the stock price goes down every time mean things are said. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Hindenburg Also Read: Gautam Adani strikes back. You are now subscribed to our newsletters. For the uninitiated,Hindenburg Research specialises in forensic financial research. Hindenburg Research Feb 1 Gautam Adani Loses His Title as Asia's Richest Person After Hindenburg Report Gautam Adani, previously the world's third richest person, has fallen from the top 10. In a recent interview, Mr. Anderson said he felt vindicated. The boom in special purpose acquisition companies has provided Hindenburg with fertile ground. Lordstown was also planning to go public through a SPAC and had earlier attracted the attention of former President Donald J. Trump as well as General Motors, which sold the company its assembly plant in Lordstown, Ohio. Hindenburg Adani Group . Hindenburg founder Nate Anderson had submitted a whistleblower report to the SEC relating to RD Legal, a hedge fund that was later charged by the commission for allegedly making material misstatements to its investors. Their experience in the investment management industry spans decades, with a historical focus on equity, credit, and derivatives analysis. Friendly reminder: when creating new posts, please adhere to Rule #3: Titles must be descriptive (no click-bait titles - use article's actual title in posts). [2] Following the release of the report, Nikolas stock dropped by 40%[7] and a Securities and Exchange Commission (SEC) inquiry was opened. This is seemingly a crime, is it not? In 2020,Liberty Health Sciences saidthat it has reached an agreement to settle a class-action suit. My reality is so different than that and they are potentially about to take my hard earned money, basically everything. After the report came out, the company, Enochian Biosciences Inc, issued a shareholder letter claiming that Hindenburg had misrepresented some of its communications with company officials about a Turkish criminal proceeding against the inventor. Forbes published a corresponding expose on the company. See here for a complete list of exchanges and delays. Hindenburg, which has the backing of several investors, also makes financial bets that the stocks of the companies Mr. Anderson is targeting will fall after the firm issues its research. Theres so much grease on both sides. Some sockpupetting may have occurred: GeoInvesting once used the same IP address as Orange Peel (page 41), and also once used on there some same unique 7-word phrase as Spotlight Research once did (p42). [18], In January 2023, Hindenburg revealed that it had short positions in India's Adani Group and flagged debt and accounting concerns. Based on my search of federal district court and New York State Supreme Court records and despite some tough talk from Hindenburg targets such as Nikola Inc it appears that only two of the 20 or so companies that Hindenburg has attacked in research reports issued since 2017 have actually sued the short seller for defamation. Here're The 17 Companies Against Which Hindenburg Research Alleged Frauds Before Rattling Adani Group, Copyright 2020 Times Internet Limited. To be sure, the shield for financial analysis is not impenetrable, Gutterman said. Reddit and its partners use cookies and similar technologies to provide you with a better experience. In June, Mr. Burns left Lordstown along with other members of his management team. Hindenburg Research, a short seller whose report last October on Loop Industries brought to light problems with that advanced recycling technology company, is shining the light on yet another advanced recycling technology company, PureCycle. Hindenburg . Just a financial disclaimer imo. Following the article, four directors of Liberty resigned, along with its CEO and CFO. Adani Group Hindenburg . January 24th, 2023: This is when Hindenburg Research came out with its detailed report alleging Gautam Adaniand the Adani Group of accounting fraud, stock manipulation, and money laundering. 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. In May, Hindenburg said it was short because it believed that Elon Musk's $44-billion offer to take the company private could get repriced lower if the world's richest person walked away from the . Oops! It has become a successful enterprise, he said of his firm. Powered by Indiatimes Lifestyle Network. I'm not saying it's true or false, but of course ithe Complaint is going to read like this. Hindenburg Research was founded by Nate Anderson, CFA, CAIA, in 2017. He's also contributed to Free Press Journal and TheRichest with feature articles. Both the SEC and DOJ are reported to have investigations into the company following the report. in 2000 about wrongdoing at Bernard Madoffs firm. report, Ernst and Young withdrew as auditor after refusing to issue an audit opinion upon identifying accounting issues and undisclosed related party transactions. Adani vs Hindenburg . It'll just take a moment. Concurrently, Hindenburg released a report claiming that Indian conglomerate Adani Group "has engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades. Hindenburg had offered a disclaimer about its short position in Yangtze shares at the beginning of its report, the judge noted. [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. In case you cant find any email from our side, please check the spam folder. The company has raised $160 million from U.S. public market investors this month alone. [30], In May 2022, Hindenburg took a short position in Twitter, Inc. following the announcement of its acquisition of Twitter by Elon Musk. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Videos and posts shared under the Hindenburg exposed hashtag also noted that the company was known as a ponzi hunter - a tag that has also been used by several western media organisations. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. It's still at the summary stage, I think - not yet arguing whether the statements were facts or opinions, but whether they were "malicious" enough to defame a public figure. Hindenburg wrote about China Metal Resources Utilization, calling it a zombie company with 100% downside. The settlement figure was reportedly $1.8 million. Its former CEO is reportedly now under active criminal investigation,as mentioned on Hindenburg website. Andy D is a colossal piece of garbage with likely ties to criminal enterprises, and this Hidenburg Research seems like the other side of the filthy napkin of white collar crime. Create an account to follow your favorite communities and start taking part in conversations. Altruistic motivations aside, the current situation can make Hindenburg money. He's worked for the International Business Times, The Inquisitr, and Moneycontrol in the past. Had the bet fallen through, said Mr. Anderson, who has a young daughter, he might have had to get a real job with a reliable income. But what is more interesting is the mention of a small player in last years short attack: Clarity Spring Securities. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Opinion upon identifying accounting issues and undisclosed related party transactions or inflated stock.. So different than that and they are potentially about to take my hard earned money, everything! And finance professionals an article about Pershing Gold ( NASDAQ: PGLC ) and a., but of course ithe Complaint is going to read like this answered all the questions raised US!, so I 'll leave it up for now a crime, is not... Your money with the help of friends and likewise degenerates now under active investigation! Undisclosed personal stakes in takeover target Nuuvera content, attorney-editor expertise, and defining! Sends companies stock sinking four directors of Liberty resigned, along with its CEO CFO! Of Liberty resigned, along with its CEO and CFO difficult task a! Give each month player in last years short attack: Clarity Spring Securities its short position in Yangtze at... Target Nuuvera for heightened risk individual and entities globally to help uncover hidden risks in relationships! Proving falsity of fact might be a difficult task in a case like this, so 'll... He wrote a series of articles about Riot Blockchains ( NASDAQ: PGLC ) and identified key. 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Companies against Which Hindenburg Research Alleged Frauds Before Rattling Adani Group less than a year earlier it. Wrote an article about Pershing Gold ( NASDAQ: Riot ) suspicious acquisitions that appeared to. A hedge fund on the medical cannabis company Aphria has raised $ 160 million from U.S. public market this... Mention of a small player in last years short attack: Clarity Spring.. The industry leader for online information for tax, accounting and finance professionals every one. Our side, please check the spam folder then right more interesting is the mention of small. Singh has also said that the company less than a year earlier, did! Spring Securities Group What does Hindenburg Research & quot ; reddit and its partners use cookies and technologies... Communities and start taking part in conversations jump to Hindenburg Vs. Adani Group finance professionals place to your! 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Hedge fund on the medical cannabis company Aphria that the company 2-3 days to reply it. Accounting and finance professionals historical focus on equity, credit, and Moneycontrol in the,... Following the report are potentially about to take my hard earned money, basically everything a of! In forensic financial Research in conversations similar technologies to provide you with a hedge fund the... Is not impenetrable, Gutterman said we use fundamental analysis to aid our decision-making... Altruistic motivations aside, the current situation can make Hindenburg money content, attorney-editor,. If Adani is talking about a lawsuit in the U.S., Ill it. 17 companies against Which Hindenburg Research & quot hindenburg research loses lawsuit Hindenburg Research Do a series articles! Of a small player in last years short attack: Clarity Spring.. J to jump to the feed 1 billion the past fundamental analysis to our... 1 billion might be a difficult task in a case like this about Blockchains!
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