Gautam Adani strikes back. Can he win the perception war?9 min read . Updated: 30 Jan 2023, 11:07 AM IST
Retail investors don’t have time to digest a 413-page rebuttal to Hindenburg’s allegations before a crucial share sale closes Tuesday
Gautam Adani, the Indian tycoon under attack by a New York-based short-seller, has outdone his accuser 4:1: The rebuttal put out by his group Sunday night in India runs into 413 pages. Hindenburg Research’s allegations of stock-price manipulation and accounting fraud were contained in a 106-page report, which has now been denounced by the conglomerate as “nothing short of a calculated securities fraud under applicable law." Is the response, backed by the claim that the group may pursue remedies, as weighty as it is voluminous? Perhaps it doesn’t really matter.
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