Gautam Adani published a 413-page rebuttal of allegations of fraud by short seller Hindenburg Research, seeking to calm potential investors before the Indian billionaire’s flagship completes a $2.5 billion share sale.
Some 65 of the 88 questions have been addressed in Adani’s public disclosures and the conduct of the American short seller “is nothing short of a calculated securities fraud under applicable law,” Adani Group said in a statement Sunday. It reiterated it will “exercise our rights to pursue remedies to safeguard our stakeholders before all appropriate authorities.”
