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  "documentTitle": "Burford Capital (BUR)",
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  "authorName": "Carson Block",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-08-13 00:00:00",
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  "notes": "Includes footnotes referencing SEC guidance and specific case details regarding 'Napo'.",
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      "text": "Nothing in BUR's response impacts our view that BUR intentionally misleads investors about the prudence of its fair value gains by manipulating its (non-IFRS) ROIC and IRR metrics.",
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      "text": "Napo (or whatever BUR would call it at the time) was shown as a “Concluded Investment” in the 2013 annual report, despite there being no cash available to back up",
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      "text": "LCM has a conservative, cash-based accounting policy. Litigation contracts are recognised at historical cost and we do not adopt fair value accounting in our reporting and never have done.",
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      "text": "Nothing in BUR's response impacts our view that BUR intentionally misleads investors about the prudence of its fair value gains by manipulating its (non-IFRS) ROIC and IRR metrics.",
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      "text": "Napo (or whatever BUR would call it at the time) was shown as a “Concluded Investment” in the 2013 annual report, despite there being no cash available to back up — Muddy Waters Capital",
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      "text": "Our View Remains that BUR Manipulates its ROICs and IRRs",
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