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Hindenburgresearch

All articles tagged with #hindenburgresearch

business1 year ago•2 min saved

Super Micro Computer Faces Setbacks Amid NVIDIA Order Fallout

Super Micro Computer (SMCI) is facing significant challenges as it deals with legal issues, potential delisting from Nasdaq, and the loss of major clients like NVIDIA and YTL Group. Allegations of financial impropriety and a preliminary DOJ investigation have led to a halt in its Malaysian factory expansion, affecting YTL's plans for a large AI data center. SMCI's troubles began with a report from Hindenburg Research detailing malpractices, and the company now has until November 16 to comply with Nasdaq's reporting requirements.

via Wccftech|

#business #financialimpropriety #hindenburgresearch

business-and-finance2 years ago•0 min saved

Gautam Adani Regains Title as Asia's Wealthiest with $97.6 Billion Fortune

Gautam Adani has regained the title of Asia's richest person with a net worth of $97.6 billion, surpassing Mukesh Ambani who has a net worth of $97 billion. This comes shortly after India's Supreme Court ruled that no further investigations were necessary into allegations made by Hindenburg Research against Adani's business conglomerate. Adani's wealth increased by $7.7 billion in a single day, as reflected in the Bloomberg Billionaires Index.

via Bloomberg|

##asiarichestperson #bloombergbillionairesindex

business-and-finance2 years ago•3 min saved

"Supreme Court Decision Bolsters Adani Amid Regulatory Probe and Hindenburg Allegations"

The Supreme Court of India has ruled that the Adani Group, led by billionaire Gautam Adani, will not be subjected to additional investigations beyond the ongoing probe by the Securities and Exchange Board of India (SEBI), which must be completed within three months. This decision comes after allegations of wrongdoing by U.S. short-seller Hindenburg Research, which led to a significant drop in Adani's stock value. The court's ruling has resulted in a rally of Adani Group's shares, although the company still faces other challenges, including political scrutiny and separate federal investigations.

via Reuters India|

##adanigroup #business-and-finance

business-and-finance2 years ago•2 min saved

"Supreme Court Ruling Favors Adani, Directs Swift End to Probe Amidst Hindenburg Allegations"

The Supreme Court of India has directed the Securities and Exchange Board of India (SEBI) to conclude its investigation into the Adani Group within three months, stating that the investigation cannot remain open-ended. This follows allegations by Hindenburg Research of stock manipulation and accounting fraud against the conglomerate. Gautam Adani, the head of the Adani Group, expressed relief at the court's decision, stating "truth has prevailed." Shares of Adani Group companies rose following the ruling, despite the group having previously lost significant market value after the Hindenburg report. Adani, once the second-richest person globally, now ranks 15th on the Bloomberg Billionaires Index.

via CNN|

##adanigroup #business-and-finance

business-and-finance2 years ago•2 min saved

"Supreme Court Directs Regulators to Conclude Adani-Hindenburg Probe as Shares Surge"

India's Supreme Court has declined to establish a new panel to investigate Hindenburg Research's allegations of fraud against Gautam Adani's companies, instead directing the Securities and Exchange Board of India (SEBI) to complete its ongoing investigation within three months. The court dismissed claims of a conflict of interest within the court-appointed panel and emphasized that investigations by third-party organizations like Hindenburg, which accused Adani of "the largest con in corporate history," cannot be considered conclusive evidence against SEBI's findings. Adani's firms experienced a significant market value loss following the allegations but have since seen a recovery in stock prices.

via BBC.com|

##business-and-finance #gautamadani