The US research firm Hindenburg Research, which is known for short-selling, is to be shut down, as its founder Nate Anderson in an announcement on Wednesday. The reports of the firm have resulted in wiping out billions of dollars of Indian billionaire Gautam Adani and his companies.

Anderson said over the next six months, he plans to work on a series of materials and videos to open-source every aspect of his model and how his team conducts its investigations.

Hindenburg Research, a US investment research firm known for short-selling, and whose reports resulted in wiping out billions of dollars of Indian billionaire Gautam Adani and his companies, has been shut down,

Hindenburg Research published reports against Indian conglomerate The short-seller accused Adani Group of using offshore tax havens improperly, which the company denied.

Nate Anderson, the US activist investor who made his name by publicly attacking companies including Afterpay-owner Block and billionaire tycoon Gautam Adani’s empire, is closing his New York short-selling firm Hindenburg Research.

Activist short seller Nathan Anderson, famous for his campaigns against Adani Group, Super Micro and Nikola, is shutting down his firm Hindenburg Research seven years after he founded it. “The plan has been to wind up after we finished the pipeline of ideas we were working on,

Nathan Anderson, who started Hindenburg in 2017, cited the toll of the ‘rather intense, and at times, all-encompassing’ nature of the work as the reason for his decision, in a website post published on Wednesday.