Hindenburg Research, the US-based short-selling firm that made global headlines for its explosive report targeting several business entities, including India’s Adani Group, is set to be disbanded, said founder Nate Anderson. "I have made the decision to disband Hindenburg Research. The plan has been to wind up after we finished the pipeline of ideas we were working on," he stated in a note on the website of Hindenburg.

In a statement released a few days before Donald Trump entered his office, Anderson also explained that there was no specific threat or personal issue behind his decision to leave.

The Adani Group in 2023 was in Hindenburg target, saying the group was "nothing but lies" and made "calculated attacks on India". In August 2024, short-sellers launched another attack on power-to-port companies, banishing the allegations as “recycled claims” that had previously been dismissed. Talking about the short seller job blow a month after, Adani Group Chairman Gautam Adani said it had given him the "most profound lessons".

"Our leadership spirit was never more visible than during the financial market attack in January last year. It was a short-selling attack initiated from abroad. This was not a typical financial strike. It was a dual assault targeting our financial stability and pulling us into a political storm. It was a calculated move," Adani said at that time.

In the past, Hindenburg targeted the Indian market regulator chief Madhabi Puri Buch and her husband; they called it an "attempt at character assassination".

The short seller's move comes after a prominent Republican lawmaker criticised the US government's intention to investigate the companies belonging to the influential billionaire Adani Group. Earlier this month, in a letter to Attorney General Merrick B Garland, Congressman Lance Gooden questioned the need for risky moves that would strain America's global alliances.