Reported about 1 year ago
A short-seller, Hindenburg Research, accused Indian businessman Gautam Adani of fraud, causing a market value wipeout of $153 billion from his companies. Despite this, Hindenburg only made $4 million from the ordeal, sparking a continued war of words. Adani Group refuted the claims, and regulators questioned Hindenburg's short bet arrangement. This clash exemplifies the lengths a conglomerate will go to protect itself and the persistence of the short-seller.
Source: YAHOO