Burford Capital Alleges of Potential Market Manipulation
- Trading analysis shows evidence of manipulation, Burford says
- Company has alerted authorities, considering its own options
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Burford Capital Ltd., the latest target of short seller Muddy Waters, said it found evidence of illegal market manipulation after a preliminary analysis of trading that led to last week’s record stock slump.
A forensic examination of detailed data by Burford and its expert, Professor Joshua Mitts of Columbia University, “discloses trading activity consistent with material illegal activity,” the litigation-finance firm said in a statement Monday. The company said it has made regulatory authorities and criminal prosecutors aware of its findings and is considering its own options.