Adani Group Hires New York-Based Law Firm To Advise It On Stocks Crisis
NDTV
Over the past week, share prices of companies in the Adani Group have dropped significantly, following the report, which alleged stock manipulation and fraud by the conglomerate.
Gautam Adani-led Adani Group has hired US-based law firm Wachtell to fight against allegations recently leveled against the conglomerate by short-seller Hindenburg Research, Financial Times reported.
According to the British daily news report, the Adani Group has tapped senior lawyers at Wachtell, Lipton, Rosen & Katz to advise it on how to deal with the crisis facing the conglomerate. The New York-based legal firm specializes in corporate law, regularly handling large and complex transactions.
Over the past week, share prices of companies in the Adani Group have dropped significantly, following the report, which alleged stock manipulation and fraud by the conglomerate.
The Adani Group has attacked Hindenburg as "an unethical short seller" and stated that the report by the New York-based entity was "nothing but a lie".
