Billionaire Gautam Adani and Nephew to Pay $18M Over Fraud Allegations

Shares of Adani Enterprises and Adani Green Energy pared early losses on Friday after the U.S. regulators sought court approval for a settlement in their civil lawsuit against Indian billionaire Gautam Adani and his nephew, Sagar Adani.

Both stocks remain above their 52-week highs, according to LSEG data. Shares of Adani Enterprises are up roughly 24% this year, while Adani Green is up around 41%.

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