corporate malfeasance

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, leading to significant legal actions and financial implications.

‘Occupy Dalal Street’, the Indian offshoot of the globally famous movement against corporate greed and malfeasance ‘Occupy Wall Street’, started in the city on Friday but clearly lacked support.

The documentary Zeitgeist Addendum, which has won an award at the Artivist Film Festival in Los Angeles, was screened at a resort in Anjuna.

The Centre's law officer attempted in the SC to reopen a closed case that dealt with the politically inconvenient issue of appointment of heads of power corporations.

China launched the country's first class-action lawsuit against a listed company on Friday, targeting Kangmei Pharmaceutical Co, as regulators vowed "zero tolerance" against accounting fraud and other capital markets "tumors".

PM Manmohan Singh said the government would unravel the nature of the fraudulent activities at the well-known IT firm and bring the perpetrators to book.

The Supreme Court agreed on Wednesday to decide a question at the heart of the federal election-interference case against former President Donald Trump and hundreds of prosecutions arising from the assault on the Capitol on January 6, 2021, Can the government charge defendants in those cases under a federal law that makes it a crime to corruptly obstruct an official congressional proceeding? The decision to hear the case will complicate and perhaps delay the start of Trump's trial, now scheduled to take place in March.

Adani Group companies’ combined market capitalisation topped the Rs 10-lakh-crore mark on Monday after nearly more than three months.

The rally in Adani Group stocks continued on Tuesday with flagship Adani Enterprise gaining over 13%. Adani Ports, which rose more than 7% in early trades, recouped all its post-Hindenburg report losses. The port operator became the Gautam Adani-led conglomerate’s first company to recouped all its losses since January 24 — when the US short-seller’s report was released, BSE data showed.

Seven out of the 10 Adani group companies listed have been issued showcause notices by the market regulator Sebi for suspected breaches of different regulations, such as disclosure and related-party transaction norms. The companies that were served with the notices stated that the notices do not have any significant effect on their operations.

GQG Partners, a prominent shareholder in the Adani Group, increased its stake in Ambuja Cements to 3.1% with a Rs 2,750 crore investment. This investment raises GQG's exposure across six Adani companies to about Rs 62,000 crore. The firm had first invested in the Adani Group following allegations of corporate malfeasance by Hindenburg Research in early 2023.

Hindenburg Research has criticized the Securities and Exchange Board of India (Sebi) for not addressing alleged fraud in its report on the Adani Group. In June, Sebi sent a notice to Hindenburg, claiming the report contained misrepresentations and inaccuracies intended to mislead readers. Hindenburg's report, published in January 2023, accused the Adani Group of widespread corporate misconduct.

WASHINGTON: US Attorney General John Ashcroft has made it clear that the arrest of two former WorldCom executives was a clear message to business crooks that corporate fraud will not be tolerated.