Nate Anderson, the founder of the US-based short seller Hindenburg Research, said on Thursday that he has made the decision to shut down his investigative company.

In an official statement, Anderson disclosed that there were no significant problems, personal health concerns, or outside threats that led to the decision to dissolve. Rather, it was driven by a desire to take a break from the demanding nature of his employment and concentrate on other facets of his life.

He said, “As I’ve shared with family, friends and our team since late last year, I have made the decision to disband Hindenburg Research.”.

“So, why disband now?” he said. There isn’t a single thing, no danger, no health problem, and no significant personal problem.

Looking back on his path, Anderson detailed the difficulties he encountered, such as monetary difficulties, legal disputes, and self-doubt.

He said, “I had no money when I started, and after catching 3 lawsuits immediately out of the gate, I quickly had less than no money.”

In an effort to encourage others to continue the task of exposing fraud, Anderson, the creator of Hindenburg, now intends to make the investigative methods his company employs publicly available.

He said that he would produce films and other things over the course of the next six months to disseminate the strategy that made Hindenburg successful.

Anderson thanked his family, fans, and staff for their steadfast support, even if he did not specify what his next chapter will be.

The stock price of the Adani Group fell sharply when Hindenburg released a report in January 2023 accusing the business of financial wrongdoing. At the time, the organization had denied these allegations. All of the charges made in the Hindenburg Research report have been refuted by the Adani Group on several occasions.

Group Chairman Gautam Adani said at the Adani Enterprises Annual General Meeting (AGM) in June of this year that they were “faced with baseless accusations made by a foreign short seller that questioned our decades of hard work.”

“In the face of an unprecedented attack on our integrity and reputation, we fought back and proved that no challenge could weaken the foundations on which your group has been established,” he said to the audience.