Threatened with legal action, US activist investor Hindenburg Research on Thursday said it stands by its report that alleged “brazen” market manipulation and accounting fraud by the Adani group, saying it has a long list of documents it will demand in a legal discovery process.
Responding to Adani group’s statement that it was examining legal action against Hindenburg, the US-based investment research firm that specialises in activist short-selling, said Adani group has not answered any of the 88 straightforward questions it had put forward in the report.
“In the 36 hours since we released our report, Adani hasn’t addressed a single substantive issue we raised,” Hindenburg Research said on Twitter.
