Nomura Sued by Adani-Linked Fund Over Alleged Breach in Short-Seller Fallout

• Nomura Holdings Inc. faces a London lawsuit from Oyster Bay Fund Ltd (an Elara Capital Plc fund) regarding loans for Adani stock investments.
• The lawsuit stems from a cash demand and alleged breach of repayment plan by Nomura after Hindenburg Research's report caused Adani shares to plummet.
• Oyster Bay Fund claims Nomura sold Adani shares pledged as collateral, leading to $43 million in losses, a claim Nomura denies.
• The case highlights Nomura's management of high-risk trading clients, two years after a nearly $3 billion loss with Archegos Capital Management.
• Hindenburg's report accused Adani's empire of "brazen stock manipulation" and alleged Elara's involvement, which Adani dismissed as "baseless."

Why It Matters: Nomura is being sued by an Adani-linked fund over alleged loan breaches following the Hindenburg report.