Bloomberg Law
Aug. 12, 2019, 10:42 AMUpdated: Aug. 12, 2019, 12:48 PM

Burford Capital Says Evidence Points to Market Manipulation (1)

Lisa Pham
Lisa Pham
Bloomberg News

Burford Capital Ltd., the latest target of short seller Muddy Waters, said it found evidence of illegal market manipulation after a preliminary analysis of trading that led to last week’s record stock slump.

A forensic examination of detailed data by Burford and its expert, Professor Joshua Mitts of Columbia University, “discloses trading activity consistent with material illegal activity,” the litigation-finance firm said in a statement Aug. 12. The company said it has made regulatory authorities and criminal prosecutors aware of its findings and is considering its own options.

Burford’s traumatic week began when the stock sank 19% Aug. 6, the ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.