BANGKOK (AP) — Nate Anderson, the founder of the muckraking financial information firm Hindenburg Research, says he is disbanding the organization after it finished the pipeline of work it set out to do.

Hindenburg Research, the short-selling firm renowned for exposing financial misconduct among corporate giants, is shutting down. Founder Nate Anderson announced the decision in a heartfelt blog post on the firm’s website,

Hindenburg Research, whose reports resulted in wiping out billions of dollars of Indian billionaire Gautam Adani and his companies, has been shut down.

Hindenburg Research, known for targeting Adani Group in 2023 and causing a $140 billion loss in market value, is winding down. Despite facing backlash and stirring controversy, it uncovered corporate fraud globally,

Hindenburg Research, the short seller that had targeted several business groups in the past, is going to be disbanded, its founder Nate Anderson has said.

Hindenburg Research disbands after targeting major firms like Adani and Nikola with allegations of fraud and mismanagement.