Hindenburg Research Closure: Nate Anderson, founder of Hindenburg Research, announced the closure of his activist short-selling firm after nearly eight years of operation.
Alleged Collusion with Anson Funds: Court documents suggest Hindenburg collaborated with Canada’s Anson Funds to craft bearish reports targeting companies.
Securities Fraud Concerns: The collaboration raises questions about potential securities fraud, as hedge funds may have influenced report content and timing.
Email Exchanges Revealed: Alleged emails show Anderson had limited editorial control, with Anson guiding price targets and report content.
SEC Investigation Likely: The U.S. SEC could charge both Hindenburg and Anson with securities fraud if undisclosed coordination is proven.
Anson’s Past Settlement: Anson Funds previously paid $2.25 million to settle SEC claims for failing to disclose payments to publishers of negative research.
Hindenburg’s Defense: The firm denies lack of independence, claiming it vets leads rigorously and maintains full editorial control.
Facedrive Exposé: Hindenburg’s 2020 report accused Canadian ride-sharing company Facedrive of overvaluation and excessive promoter compensation.
Global Impact: Hindenburg gained fame in 2023 for its report on Gautam Adani’s conglomerate, causing significant financial and political repercussions.
Anderson’s Legacy: Anderson claims Hindenburg’s work led to civil or criminal charges against nearly 100 individuals, including billionaires and oligarchs.