Hindenburg research

US short seller Hindenburg Research LLC is targeting Asia’s richest man with accusations of market manipulation and fraud after a run of often-successful bets against companies ranging from electric-vehicle maker Nikola Corp. to Twitter Inc. The firm run by Nate Anderson published an almost 100-page report on Gautam Adani’s Adani Group, sending shares of the Indian group’s companies tumbling Wednesday. Hindenburg said it’s short Adani securities via derivatives and US-traded bonds. Adani Group rejected the accusations as “baseless” and “selective misinformation.”

• We are short Tingo Group Inc (NASDAQ:TIO) because we believe the company is an exceptionally obvious scam with completely fabricated financials. • Tingo, headquartered in New Jersey, claims to have several business segments focused on providing mobile phones, food processing and an online food marketplace for farmers primarily located in Nigeria. • Tingo was founded and is spearheaded by “Dozy ” Mmobuosi, CEO of the key holding company entity. Dozy is regularly described by the media as a billionaire and made waves earlier this year when he attempted to acquire the now-Premier League soccer team Sheffield United. • We’ve identified major red flags with Dozy’s background. For starters, he appears to have fabricated his biographical claim to have developed the first mobile payment app in Nigeria. We contacted the app’s actual creator, who called Dozy’s claims “a pure lie”. • Dozy claimed to have received a PhD in rural advancement from a Malaysian university in 2007. We contacted the school to verify the degree. They wrote back saying no one by his name was found in their verification system. • In 2017, Dozy was arrested and faced an 8-count indictment over issuance of bad checks, according to the Nigerian Economic and Financial Crimes Commission. He later settled the case in arbitration. • In 2019, Dozy claimed to have launched “Tingo Airlines” and posted social media messages encouraging customers to “fly with Tingo Airlines today”. Media outlets later uncovered that Tin...

Hindenburg Research’s bruising report accusing the Adani Group of pulling off “ On Jan. 24, the New York-based forensic financial research firm disclosed its short positions on Adani companies, on the grounds of alleged accounting fraud and “brazen stock manipulation” over the course of decades. This has sent shares of the company spiraling down into a Read more • • Hindenburg Research has a track record of exposing corporate wrongdoings, including those of The conglomerate’s legal head, Jatin Jalundhwala, in a statement on Jan. 26, said the company was “deeply disturbed” by the “intentional and reckless” attempt to tarnish Adani’s reputation ahead of The extent of the damage triggered by Hindenburg’s findings is of widespread importance in India, where several public-sector banks and the country’s trust fund Life Insurance Corporation (LIC) What is Hindenburg Research? Story continues The firm says on its website that it looks for “man-made disasters,” such as accounting irregularities, mismanagement, and undisclosed related-party transactions. Its stated aim: to uncover corporate disasters before they “lure in more unsuspecting victims.” Anderson’s firm has targeted at least 16 companies to date. It employs 10 people, mostly former journalists and analysts, Who is Hindenburg’s founder? Anderson, 38, grew up in a small town in Connecticut and earned a degree in international business at the University of Connecticut. Seeking a “divers...

Number of employees 9 (2022) Website .com Hindenburg Research LLC is a U.S. investment research firm with a focus on Operations [ ] Hindenburg Research prepares an investigation report on a target company by going through its public records, internal corporate documents and by talking to its employees. The report is then circulated to Hindenburg's limited partners, who, together with Hindenburg, take a short position in the target company before publicly releasing the report. Hindenburg takes profits if the target company's share price declines. Notable research [ ] Nikola report [ ] See also: In January 2023, Hindenburg revealed that it had short positions in India's Adani Group responded by accusing Hindenburg Research of launching "a calculated attack" on India. Due to the allegations, American finance company Other activities [ ] Hindenburg has also issued reports concerning the In October 2021, Hindenburg announced a $1 million reward for information on how the In May 2022, Hindenburg took a short position in On March 23, 2023, Hindenburg released a report on In May 2023, Hindenburg released a report on In June 2023, Hindenburg released a report on See also [ ] • References [ ] • Warner, Bernhard (22 October 2022). The New York Times. • ^ a b c Warner, Bernhard (3 December 2020). Fortune . Retrieved 2021-02-07. • ^ a b Mandl, Carolina (27 January 2023). • Ludlow, Edward; Burton, Katherine (26 January 2023). Bloomberg.com . Retrieved 26 January 2023. • hindenburgresear...

June 6 (Reuters) - Tingo Group Hindenburg also said Tingo was an "exceptionally obvious scam" and called out founder Dozy Mmobuosi's claims of having developed "the first mobile payment app in Nigeria". "We contacted the app's actual creator, who called Dozy's claims 'a pure lie'," Hindenburg said. Reuters could not independently verify the contents of the report. Tingo categorically refuted all the allegations of the report, saying it was full of "misleading and libellous content". "The Company also confirms that its accounting records are accurate and correct and that its financial results are accurately reported," Tingo said. The New Jersey-based holding company, whose shares shed more than 53% to $1.20, operates in Africa, Southeast Asia and the Middle East. Its units have ventured into agri-fintech, food processing and insurance brokerage. Tingo is the short-seller's fourth target so far this year, but a relatively smaller one compared with Indian conglomerate Adani Group, Jack Dorsey-led Shares of IEP have erased a fifth of their value after Hindenburg

MUMBAI, Feb 1 (Reuters) - India's Adani Group Hindenburg Research Here are some of the points raised and the Adani Group's responses. WHO ARE ADANI AND HINDENBURG? A school drop-out, Adani rose to become Asia's richest man whose $220 billion empire spans ports, power generation, airports, mining, edible oils, renewables, media and cement. Until last week, Adani was the world's third-richest man but has dropped down the ranks to number 15 on the Forbes rich list after the rout in Adani group stocks. Founded in 2017 by Nathan Anderson, WHAT DID HINDENBURG SAY? Hindenburg It released a report alongside the disclosure alleging improper use of tax havens and flagging concerns about debt levels. WHAT WAS ADANI'S RESPONSE? The Adani group has called the report baseless and termed the allegations "unsubstantiated speculations". IS THIS THE FIRST TIME THESE ISSUES HAVE BEEN RAISED? No. India's capital markets regulator, the Securities and Exchange Board of India, has investigated some of these issues over the past year following local media reports. Reuters The regulator has launched a "full-scale" investigation into the recent crash in shares of Adani Group companies and is also looking into any possible irregularities in the $2.5 billion share sale, Reuters reported on WHAT DOES HINDENBURG SAY ABOUT FINANCIAL CONTROLS? The short-seller has said that listed Adani companies have seen a number of changes in chief financial officers (CFOs) and that auditors used by the group are rela...

May 2 (Reuters) - Hindenburg Research, the short investor whose reports on companies have erased a big chunk of their value, criticized Icahn Enterprises LP (IEP) The development represents a rare challenge for Icahn who is accustomed, as one of the pioneers of shareholder activism, to dressing down companies over their governance and transparency, but has not had to field such criticism himself. In a report published on Tuesday, Hindenburg accused IEP of overvaluing its holdings and relying on a "Ponzi-like" structure to pay dividends. The subsequent plunge in IEP shares wiped $2.9 billion off Icahn's net worth, leaving him with an estimated $14.7 billion, according to Forbes. Icahn said in an IEP statement that Hindenburg's "self-serving" report was aimed at generating profits at the expense of IEP's long-term shareholders. "We stand by our public disclosures and we believe that IEP's performance will speak for itself over the long term as it always has," Icahn said. Icahn's Sunny Isles Beach, Florida-based company hold his various investments in the energy, automotive, food packaging, real estate and other industries. He is IEP's controlling shareholder with an 85% stake. Hindenburg said IEP's units are overvalued by more than 75% and that "IEP trades at a 218% premium to its last reported net asset value (NAV), vastly higher than all comparables." IEP's peers on the other hand, such as Dan Loeb's Third Point Investors Ltd Driving the frothiness in IEP's stock, Hindenbu...

Related CMR Articles Historically, short selling has been a clandestine activity. But with the rise of activist short sellers, they have come out in the open, often with fancy names like We explain who these mysterious group of investors are, what they do, why they are abhorred so much, and what their recent, controversial bets are. Finally, what should companies do, when faced with an activist short seller’s campaign. What is Short Selling? Short selling means selling a security that the investor does not own, with the hope of buying it back later at a lower price. The profit comes from the difference in the stock price at the time of initial sale and the lower price at which that stock will be bought back later. Unlike normal investors, who make profits when the stock price goes up, short sellers make money when the stock price goes down. While short selling can generate large profits, their risk of loss is theoretically unlimited, which can occur when the stock price rises unpredictably. A strange risk comes from “short squeeze,” a loss caused by the actions of short sellers themselves. This occurs when many short sellers have sold a stock, and the prices starts increasing. They all rush to buy the stock, to cover their short position, causing a sudden spike in the share price. This happened recently in Short selling requires investment of a different kind. A normal investor pays money to buy stocks. In contrast, a short seller must make a margin call to the broker if t...

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May 2 (Reuters) - Hindenburg Research, the short investor whose reports on companies have erased a big chunk of their value, criticized Icahn Enterprises LP (IEP) The development represents a rare challenge for Icahn who is accustomed, as one of the pioneers of shareholder activism, to dressing down companies over their governance and transparency, but has not had to field such criticism himself. In a report published on Tuesday, Hindenburg accused IEP of overvaluing its holdings and relying on a "Ponzi-like" structure to pay dividends. The subsequent plunge in IEP shares wiped $2.9 billion off Icahn's net worth, leaving him with an estimated $14.7 billion, according to Forbes. Icahn said in an IEP statement that Hindenburg's "self-serving" report was aimed at generating profits at the expense of IEP's long-term shareholders. "We stand by our public disclosures and we believe that IEP's performance will speak for itself over the long term as it always has," Icahn said. Icahn's Sunny Isles Beach, Florida-based company hold his various investments in the energy, automotive, food packaging, real estate and other industries. He is IEP's controlling shareholder with an 85% stake. Hindenburg said IEP's units are overvalued by more than 75% and that "IEP trades at a 218% premium to its last reported net asset value (NAV), vastly higher than all comparables." IEP's peers on the other hand, such as Dan Loeb's Third Point Investors Ltd Driving the frothiness in IEP's stock, Hindenbu...