Burford’s shares fell 19% on August 6, the day short-seller Muddy Waters tweeted about a forthcoming short attack against an unidentified company, and dived a further 46% on August 7, when Muddy Waters released a report criticising Burford’s accounts and management. The UK 's Financial Conduct Authority ( FCA ) is making enquiries into a short - selling report written by US activist , Muddy Waters concerning litigation financier Burford Capital . On 6 August , Muddy Waters announced over Twitter an upcoming short attack on an undisclosed company . Burford 's shares fell 46 % the day of the tweet . Muddy Waters then released a report on 7 August critiquing the litigation backed company 's accounts and management . Burford 's stock fell a further 46 % . Burford 's management has issued a statement saying it has found evidence of suspect trading activity around the time of Muddy Waters ' note .
The UK 's Financial Conduct Authority ( FCA ) is making enquiries into a short - selling report written by US activist , Muddy Waters concerning litigation financier Burford Capital . On 6 August , Muddy Waters announced over Twitter an upcoming short attack on an undisclosed company . Burford 's shares fell 46 % the day of the tweet . Muddy Waters then released a report on 7 August critiquing the litigation backed company 's accounts and management . Burford 's stock fell a further 46 % . Burford 's management has issued a statement saying it has found evidence of suspect trading activity around the time of Muddy Waters ' note .