The US investor responsible for sending Burford Capital’s shares in a freefall has slammed the London-listed litigation funder’s top execs.
Carson Block, who took a bet against Burford Capital, caused a 66% fall in the shares.
Block said: “For your listeners who might not know, I’ll let them in on the secret.
“Short-sellers do definitely look for where Neil Woodford is invested, especially when he’s invested [in smaller companies]. He’s got a great track record in [investing in bigger firms], he’s not had a great track record in life science and some of these smaller cap stocks, so there’s always the temptation to go looking where he’s been invested.”
“I can’t remember the first time we heard of Burford,” he added. “It’s a stock that has attracted the attention of smart money investors for a while, saying, it seems too good to be true, there’s a lot of red flags.”