Comment by blackeyeblitzar
3 days ago
The SEC is charging them with it (as did the DOJ in parallel) - but that’s not the same as a judgment. The way this works is the SEC accuses, and it will need to then go through the legal process of our justice system (or settle it separately). But as of right now, the Adani group hasn’t been found guilty of anything.
The main issue raised in Hindenburg’s report is around accounting. It is too early to draw any final conclusions since I don’t think independent audits have been conducted yet. The Adani group consists of many companies in many industries - some of them did switch auditors after the report came out and financial filings have continued normally since those changes. I don’t think any smoking gun has come out yet that actually proves the accusations from Hindenburg.
Thanks for providing a definition of a commonly understood legal term that I used.
Here’s a screenshot of the accusations of bribery contained in the Hindenburg report: https://imgur.com/a/cta3zuj
If you take even a cursory glance at the report, the main issues are not accounting.