Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Burford Capital Limited (Other OTC: BRFRF) and Encourages Burford Investors to Contact the Firm

NEW YORK, Aug. 21, 2019 /PRNewswire/ -- Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of all investors that purchased Burford Capital Limited (Other OTC: BRFRF) securities between March 15, 2015 and August 7, 2019 (the "Class Period").  Investors have until October 21, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

On August 6, 2019, Muddy Water Research sent out a tweet announcing that it was going to be issuing a report regarding an "accounting fiasco". On this news, shares of Burford fell $2.87, or 17.11%, to close at $13.90 per share on August 6, 2019, damaging investors.

On August 7, 2019, Muddy Waters Research issued its report disclosing, among other things, that Burford had poor governance, was mismarking the value of its legal cases in which it invests, and was manipulating its metrics including ROIC and IRR. On this news, Burford's ordinary shares plummeted $5.90, or 42.45%, to close at $8.00 on August 7, 2019 and Burford's ADRs fell $6.15, or 43.93%, further damaging investors.

The complaint, filed on August 21, 2019, alleges that throughout the class period defendants made false and/or misleading statements and/or failed to disclose that: (1) Burford has been manipulating its metrics, including ROIC and IRR, to create a misleading picture of investment returns to investors; (2) these manipulations hid the fact that the Company is at high risk for a liquidity crunch and is already arguably insolvent; and (3) 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. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you purchased Burford securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], or telephone at (212) 355-4648, or by filling out this contact form.  There is no cost or obligation to you.

Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation.  For additional information concerning the Burford lawsuit, please go to https://bespc.com/brfrf.  For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com.  Attorney advertising.  Prior results do not guarantee similar outcomes.

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SOURCE Bragar Eagel & Squire, P.C.