PHILADELPHIA, Aug. 07, 2019 (GLOBE NEWSWIRE) -- Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of shareholders of Burford Capital Limited (“Burford Capital”) (BRFRF), as a result of allegations that Burford Capital may have issued materially misleading business information to the investing public.
On August 7, 2019, The Wall Street Journal reported that “U.S. short-seller Muddy Waters accused the litigation-finance firm Burford Capital Ltd. . . . of poor governance and mismarking the value of legal cases it invests in, wiping around 50% off the value of the U.K. firm’s shares.”
The Wall Street Journal also reported that “Muddy Waters, headed by Carson Block, on Wednesday said Burford’s stock valuation and earnings are based on ‘meaningless’ metrics that the company manipulates. The firm released a report and video interview with Mr. Block making the claims at the start of London trading and the shares swooned.”
Additionally, The Wall Street Journal reported that “. . . Muddy Waters said Burford’s management stands to benefit from aggressively marking up the value of legal cases because it causes the stock owned by the company’s executives to rise in value. It criticized the company’s governance, including a lack of turnover on Burford’s board since it listed its shares in London in 2009.”
On this news, shares of Burford Capital dropped significantly during intraday trading on August 7, 2019.
If you purchased Burford Capital securities and suffered losses, please contact either Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, myarnoff@kehoelawfirm.com, info@kehoelawfirm.com, or John Kehoe, Esq., (215) 792-6676, Ext. 801, jkehoe@kehoelawfirm.com, to learn more about the securities investigation.
Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion dollars on behalf of institutional and individual investors.
This press release may constitute attorney advertising in some jurisdictions.