Shares of Adani Group companies slumped on Friday after a report the U.S. Justice Department and the Securities and Exchange Commission were examining the company’s communications to investors.
Bloomberg... Shares of Adani Group companies slumped on Friday after a report the U.S. Justice Department and the Securities and Exchange Commission were examining the company’s communications to investors. Bloomberg News reported, citing a person familiar with the matter, that the U.S. Attorney’s office in Brooklyn has asked institutional investors with large holdings in the India conglomerate about the company’s communications to them after a short-seller report was released. The same report cited two people as saying the SEC also has a similar inquiry under way. Adani Group said it is not aware of any subpoenas to its investors, according to Bloomberg.