Gautam Adani is preparing to surround Hindenburg in his own home, he hired a large American law firm for the legal battle

Gautam Adani

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The Adani Group has approached senior counsel at New York-based Wachtel, Lipton, Rosen & Katz to address the crisis it is facing after the Hindenburg allegations significantly reduced its cumulative market capitalization.

Indian businessman Gautam Adani is now preparing to surround American short selling firm Hindenburg Research in his own home. He will recall that when the Adani group threatened legal action following the Hindenburg Research revelations, the short seller company also challenged them in court. It is now reported that the Adani group has hired one of Wall Street’s largest law firms to take on Hindenburg Research. A report in The Financial Times, citing four people familiar with the matter, suggested that the Adani group approached New York City seeking a solution to deal with the crisis it faces after Hindenburg’s allegations narrowed. significantly its cumulative market capitalization. in Wachtel, Lipton, Rosen & Katz.

Over the past few decades, Wachtel has made a name for itself as the most sought after legal counsel for some of the largest companies in the US. This firm is world famous and the most discussed for legal fight in controversial matters. By fighting the case, Adani Group wants to assure its investors about the financial health of the companies. People with knowledge of the matter said Wachtel was approached by the Indian firm Cyril Amarchand Mangaldas.

Adani Group has rejected the allegations brought forward by Hindenburg Research, it has had little to no impact on investors and global financial institutions. At the same time, the Adani group had previously said it would seek legal options regarding punitive action against US financial research firm Hindenburg Research for acting without thinking as part of an attempt to damage its flagship company’s share sale.

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