Hindenburg refutes allegations from Indian regulator on Adani short bet
-Hindenburg Research refuted allegations on Monday from India's securities regulator accusing the company of colluding with a U.S. asset manager to use non-public information to set up its short bet against Adani Group last year.
"In our view, SEBI has neglected its responsibility, seemingly doing more to protect those perpetrating fraud than to protect the investors being victimized by it," Hindenburg said. In the notice, SEBI alleges Hindenburg colluded with its client Kingdon Capital Management by providing a draft of its report on Adani Group before it was released publicly.
The positions were squared off in February, leading to gains of $22.25 million, the SEBI documents said.An email to Hindenburg Research and Kingdon Capital was not immediately answered.
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