Litigation Funder Burford Capital Sees Investor Suit Dropped
Law360 (December 20, 2019, 6:38 PM EST) -- Investors who accused litigation funder Burford Capital Ltd. and its top executives of juking its financial metrics have withdrawn a proposed class action against the firm.
In a brief notice, the court-appointed class representative told a New York federal court on Thursday that the case was being voluntarily dismissed.
“No defendant has either answered the complaint or filed a motion for summary judgment in this case,” according to the filing.
A trio of investors, including Stephen Merz, hit Burford with a stock-drop suit in August accusing the funder of using fuzzy numbers to mislead investors while neglecting to disclose that it...
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