Burford Capital Limited (BRFRF, BRFRY) Investor Securities Class Action Lawsuit 08/21/2019

If you purchased a shares of Burford Capital Limited (BRFRF, BRFRY), you have certain options and for certain investors are short and strict deadlines running. Deadline: October 21, 2019. BRFRF, BRFRY investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Burford Capital
Case Name: 
Burford Capital Shareholder Class Action Lawsuit 08/21/2019
Case Status: 
Lawsuit Filed
Affected Securities
OTC: BRFRF
OTC: BRFRY
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
08/21/2019
Class Period Begin: 
03/18/2015
Class Period End: 
08/07/2019
Court of Filing: 
U.S. District Court for the Eastern District of New York
Deadline To File for Lead: 
10/21/2019
Summary: 

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.