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Burford still in the dock

Burford still in the dock

On 5 August, Muddy Waters shorted 0.71 per cent of Burford Capital (BUR) shares. Within two days, the hedge fund had published a devastating short dossier and largely closed out its position in the litigation funder. At that point, the short-seller would have been well within its rights to exit the debate over its target’s accounting and corporate governance practices. It has not. This week, Muddy Waters published its counter-response to Burford’s own defence, dismissing the Aim-listed group’s rebuttal and a series of accusations as “nothing more than distraction and thin excuses”.

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