Adani Group mulls suing US short-seller for fraud claims

NEW DELHI (AP) — India’s Adani Group has launched a share offering for retail investors and says it is considering legal action against U.S.-based short-selling firm Hindenburg Research for allegations of stock market manipulation and accounting fraud that caused heavy selling of its stocks this week.  Jatin Jalundhwala, head of the Adani group’s legal department, said late Thursday that the group “was evaluating the relevant provisions under U.S. and Indian laws for remedial action against Hindenburg Research.” He said the allegations were an attempt by Hindenburg to sabotage Adani’s share offering. Hindenburg Research said in a rebuttal that it would welcome legal action by the Adani group.