Burford – New York
In its second scathing attack on the litigation funder, Muddy Waters claims Burford contrived to present a rosier financial picture than was actually the case.
May 12, 2020 at 07:03 AM
1 minute read
Managing Editor
Litigation funder Burford Capital has been accused of manipulating its latest financial results, in yet another scathing attack on the firm by short seller Muddy Waters.
In a report released on Tuesday on Burford’s 2019 financials, Muddy Waters alleges that the litigation funder used “reclassification” and “redefinition” in order to “inflate cash receipts, operating profit, and to otherwise present a misleading picture of the business”.
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