The Globe and Mail reports in its Thursday edition that Hindenburg Research's founder is disbanding the firm whose reports sparked heavy short-selling by investors and investigations by authorities, wiping billions from the market values of companies, including India's Adani Group and U.S.-based Nikola. A Reuters dispatch to The Globe says Nathan Anderson, who started Hindenburg in 2017, cited the toll of the "rather intense, and at times, all-encompassing" nature of the work as the reason for his decision, in a website post Wednesday. Short-sellers like Mr. Anderson bet against companies they believe have accounting issues, mismanagement or fraud, which they find usually after a long period of investigation. Mr. Anderson, who did not immediately respond to a Reuters request for comment, said there was not a specific reason for his decision: "No particular threat, no health issue and no big personal issue." The short-seller accused Adani Group of using offshore tax havens improperly, which the company denied. U.S. prosecutors announced in November that Gautam Adani had been indicted in New York over his role in an alleged multibillion-dollar bribery and fraud scheme. "We shook some empires," Mr. Anderson said.