December 19, 2020 - The case was voluntarily dismissed.

November 20, 2019 - An amended complaint was filed. August 21, 2019 - An investor in shares of Burford Capital Limited (BRFRF, BRFRY) filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Burford Capital Limited in connection with certain allegedly false and misleading statements made between March 18, 2015 and August 7, 2019. Burford Capital Limited reported that its annual Total Revenue rose from 4340.97 million in 2017 to $426.43 million in 2018 and that its Net Income increased from $249.3 million in 2017 to $317.57 million in 2018.

On August 7, 2019, Muddy Waters reported that Burford overstated returns on investments and has doubtful financial reporting and corporate governance. The report continued to allege that Burford was actively misleading investors and its accounting to value its litigation cases was aggressive. Shares of Burford Capital Limited (BRFRF) declined from $26.75 per share in August 2018 to as low as $9.75 per share on August 22, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Burford Capital Limited (BRFRF, BRFRY) common shares between March 18, 2015 and August 7, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between March 18, 2015 and August 7, 2019,the defendants made false and/or misleading statements and/or failed to disclose that Burford has been manipulating its metrics, including ROIC and IRR, to create a misleading picture of investment returns to investors, that these manipulations hid the fact that the Company is at high risk for a liquidity crunch and is already arguably insolvent, and that as a result of the aforementioned misconduct, Defendants’ statements about Burford’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.