The first shareholder class action against litigation funder Burford Capital arising out of the recent report by US short seller Muddy Waters has been filed in New York.
Burford Capital has bowed to pressure over its approach to corporate governance by announcing plans for a dual listing in the US, fresh directors and a new chief financial officer.
Shares in third-party funder Burford Capital fell sharply again yesterday despite its claim that trading patterns behind last week’s share price collapse were “consistent with illegal market manipulation”.
The US short seller who caused Quindell huge problems five years ago has weighed in on Burford Capital too, describing the litigation funder as “inappropriately financed”. Daniel Yu, founder of Gotham City Research, also argued that short sellers were “important… Read More
Burford Capital has today issued a 5,000 word “rebuttal” to what it called the “false and misleading” short attack report issued by Muddy Waters, which more than halved its share price.
Litigation funding giant Burford Capital was reeling yesterday after a short-selling attack on its shares saw them lose nearly half their value in a day.
Specialist US class action law firm Scott & Scott has filed an opt-out collective action under the Consumer Rights Act 2015 against five banks that unlawfully manipulated the foreign exchange market.
City law firm HFW has agreed a £25m portfolio litigation funding facility with Augusta Ventures, while also unveiling a development partnership with litigation analytics start-up Solomonic.