Burford reinstates dividends after pandemic disruption
Burford Capital is reinstating full dividends after experiencing the “best year in its history”, but the litigation funder’s profit levels have taken a dive. Dividends were scrapped in early 2020 due to uncertainty surrounding the pandemic, during which time the funder suffered from a slowdown in business, but they are now set to return at 12.5 US cents per share. Burford told the market that its business rebounded well after a drop-off in the first half of 2020, with disruption […]
Burford completes listing on US stock market
Litigation funder Burford Capital has started trading on the New York Stock Exchange, after its application to list was accepted. The funder has become the first to publicly trade in the US and is the first dual-listed company in legal finance. Its share price went up by almost 9 per cent following the announcement, with the news coming just three months after the funder announced its intention to list in the US. Burford has been listed on the UK’s AIM […]
Burford Capital sets sights on US listing
Burford Capital has announced plans to expand its reach beyond the UK’s AIM market, with a potential listing on a US stock exchange. The litigation funder revealed the move during a brief statement to investors on Tuesday, confirming that it has filed a registration statement with the US Securities and Exchange Commission (SEC). This means that the third-party funder is looking to list both in the US and on the London Stock Exchange, though it insisted it is not intending […]
Coronavirus: Burford postpones financials due to “unprecedented circumstances”
Litigation funder Burford Capital today informed investors it will be delaying the release of its full financial results, as the stock markets continue to take a hit due to the spread of coronavirus. It also confirmed it is now asking its New York staff to work remotely, following a precedent set in the US city by the likes of Quinn Emanuel Urquhart & Sullivan and Faegre Drinker. This development also coincided with yet another drop in Burford’s share price, which […]
Investors drop US lawsuit against litigation funder Burford
Litigation funder Burford Capital has announced that a US class action against the company has been withdrawn by the claimants and dismissed. The lawsuit was filed in August 2019 by US shareholders after short-selling firm Muddy Waters issued a negative report against the funder, causing its share price to drop 40 per cent. The lawsuit had sought to recover damages against Burford after it was accused by Muddy Waters of financial irregularities and inflating its returns from cases it had […]