Founder of muckraking financial information firm Hindenburg Research calls it quits Nate Anderson, the founder of the muckraking financial information firm Hindenburg Research, says he is disbanding the organization after it finished the pipeline of work it set out to do.
In one of its recent projects, it focused on the Indian conglomerate Adani Group, accusing it of “a brazen stock manipulation and accounting fraud scheme.” Hindenburg cited two years of research, including talks with former Adani senior executives and reviews of thousands of documents.
Hindenburg, founded in 2017, has a track record of sending the stock prices of its targets tumbling by disclosing fraud and other abuses in financial markets that it has unearthed through deep research.
In another, Hindenburg Research questioned the number of pre-orders that startup electric truck maker Lordstown Motors had reported for its Endurance model, leading to a shakeup in its management.
Anderson said in a letter posted in X, or Twitter, late Wednesday that he was “writing this from a place of joy,” but that Hindenburg was a chapter in his life, “not a central thing that defines me.”.
