Shares in Burford Capital (BUR) fell by 13 per cent on Thursday morning, after the litigation funder warned that the value of its legal cases might have “materially" changed following a probe by the US markets watchdog.
Burford has been forced to delay the publication of its full-year results and warned that financial statements in its 2022 annual report “may differ materially from prior disclosures”. This follows a six-month review by the US Securities and Exchange Commission (SEC) into how Burford values its legal finance assets.