The law community has had about a week to digest the accusations ping-ponging between Burford Capital and San Francisco-based investment firm Muddy Waters, and legal experts remain divided about the facts and impacts of the exchange. However, some argue the litigation funding industry might not look the same in the aftermath.
Last week, Muddy Waters published a report calling Burford “arguably insolvent” and accused the litigation funder of manipulating its metrics for gauging financial returns. The next day, Burford issued a scathing rebuttal and hosted a lengthy shareholder call, slamming the report as false and misleading. On Sunday, Burford officially accused Muddy Waters of market manipulation. The Rosen Law Firm in New York is investigating the allegation on behalf of shareholders, and Freshfields Bruckhaus Deringer, Quinn Emanuel Urquhart & Sullivan and Morrison & Foerster are advising Burford.
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