August 7, 2019 / 1:49 PM / 4 months ago

Burford Capital's top shareholder Invesco refutes "improper" behaviour claims

LONDON, Aug 7 (Reuters) - Burford Capital’s top shareholder Invesco Asset Management said it “categorically” refuted any accusation of “improper or unethical behaviour” after short-seller Muddy Waters pointed accounting misdemeanours in Burford.

Invesco, which owns about a 14% stake in Burford, added: “Invesco’s legal advisers are reviewing the accusations and we expect we will be able to make a broader statement in due course.”

Burford Capital shares fell 60% on Wednesday following Muddy Waters report. Responding to the “short attack” document, the company earlier in the day said its returns were “robust”. (Reporting by Thyagaraju Adinarayan; editing by Marc Jones)

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