Hindenburg Research LLC is a U.S. investment research firm with a focus on activistshort-selling founded by Nathan Anderson in 2017.[2][3][4] Named after the 1937 Hindenburg disaster, which they characterize as a human-made avoidable disaster,[5] the firm generates public reports via its website that allege corporate fraud and malfeasance.[6] Companies that have been the subjects of their reports include Adani Group, Nikola,[7]Clover Health,[8]Block, Inc.,[9]Kandi,[10] and Lordstown Motors.[11] These reports also feature defenses of the practice of short-selling and explanations of how short-sells can "play a critical role in exposing fraud and protecting investors."[12]