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Adani's conglomerate shed more than US$100 billion in value earlier this year after a US short-seller investment firm made explosive allegations of accounting fraud, which the Indian company dismissed as an organised "smear campaign".
“Once these things (short-seller attacks) begin there are others who could be looking,” said Amit Tandon, managing director of proxy and governance firm Institutional Investor Advisory Services (IiAS) in India.
That appears to be what happened to a man named Andrew Left, a short-seller of some note.
The boss of Darktrace has snapped up £100,000 of shares in the tech firm, in a vote of confidence following a short-seller attack earlier this week.
The FPO sailed through despite a scathing report by US-based short-seller, Hindenburg, that pummeled stocks in Adani group companies.
The huge conglomerate was accused of decades of "brazen" stock manipulation and accounting fraud by US-based short-seller Hindenburg Research earlier this year.
Source: https://www.bbc.co.uk/news/world-asia-india-65074804?at_medium=RSS&at_campaign=KARANGA
"These rating actions follow the significant and rapid decline in the market equity values of the Adani Group companies following the recent release of a report from a short-seller highlighting governance concerns in the Group," it said.
Source: https://www.ndtv.com/business/moodys-cuts-rating-outlook-on-4-adani-group-companies-3770912
Twitter founder Dorsey attacked by short-seller: Payments.