Burford Capital says U.S. class action lawsuit dismissed

LONDON, Jan 7 (Reuters) - Litigation funder Burford Capital
said that a U.S. securities class action lawsuit
against the company filed in August last year has been withdrawn
by the plaintiffs and dismissed.

The lawsuit had been filed by purchasers of securities in
the company, seeking to recover damages under U.S. laws.

"There is no litigation pending against Burford at present
other than ordinary course skirmishing within a small number of
ongoing funded investment schemes," Burford said in a statement
on Tuesday.

The company had been accused of misrepresenting or failing
to disclose signs of adverse trading conditions in annual
reports dating back to 2014.

U.S. short-selling firm Muddy Waters took a short position
in Burford Capital in August, its first foray into a
London-listed company. News of the trade saw shares in Burford
slip by more than 40%.

It also announced management changes, saying that Aviva Will
and David Perla will become co-chief operating officers, with
Craig Arnott as deputy chief investment officer, with
Christopher Bogart remaining as CEO.

Burford reiterated plans to either add a U.S. listing on the
New York Stock Exchange or Nasdaq - which would not involve
issuing new equity - or move its London listing to the main
London Stock Exchange market.
(Reporting by Huw Jones, editing by Sinead Cruise)

Burford Capital