Hargreaves Lansdown sells out of Burford in Select range admitting 'we may have been wrong'

'Questions unanswered' following Muddy Waters attack

Hargreaves Lansdown (HL) has sold out of Burford Capital in the HL Select funds following the short selling attack by Muddy Waters.

Fund manager Steve Clayton admitted the HL team "don't know whether or not [Muddy Waters] are right about Burford", but warned that the dispute could "run and run". He added that "questions remain unanswered" and said the team would "rather not have your fund's capital at risk while these issues are resolved". On 7 August US short-seller Muddy Waters took aim at AIM-quoted litigation financer Burford and its largest shareholder, Invesco, in which it said it had begun shorting Burford, accusing Burford of unethical behaviour. "Muddy Waters made their name spotting wrongdoing in Chin...