Burford Capital Ltd. investors who accused the litigation funder of manipulating metrics to make its returns look better voluntarily dismissed their New York federal district court suit without prejudice.
The lead plaintiffs, who secured judicial approval and class counsel in November, filed a notice of voluntary dismissal with the U.S. District Court for the Eastern District of New York Dec. 19. The parties agreed to bear their own fees and costs, the investors said.
Burford had yet to answer the complaint or file a motion for summary judgment, the notice said. The company previously called the short seller report the investors used as a basis for the complaint “false” and “misleading.”
The Rosen Law Firm PA represented the investors. Kramer Levin Naftalis & Frankel LLP represented some of the Burford executives named as co-defendants.
The case is Merz v. Burford Capital Ltd., E.D.N.Y., No. 19-cv-04807, notice of voluntary dismissal filed 12/19/19.