FCA Found No Market Abuse in Burford Fight With Muddy Waters (2)

The U.K.’s Financial Conduct Authority, which investigated trading of Burford Capital Ltd., found no evidence of market abuse around the publication of a critical report by Muddy Waters, according to filings in a U.K. court case.

Burford said the report, which precipitated a crash in its share price, was “false and misleading” and called for an investigation into the trading. But the FCA told Burford’s chief executive in March that it had not found any evidence of market manipulation, the company said in the filing.

Burford appeared in a London court Wednesday -- via videoconference -- to force the ...