Shares of Burford Capital (BUR) fell sharply in early afternoon trading during a hearing on Argentina’s appeal of a $16B U.S. court judgment plaintiffs it backed won against the nation, noted Bloomberg’s Jonathan Gilbert and Bob Van Voris. Two of the three appeals court judges hearing the case in Manhattan asked skeptical questions, with U.S. Circuit Judge Denny Chin stating during the hearing that “It does have a feel like it should have been litigated in Argentina,” according to Bloomberg. Burford shares are down $1.10, or 10%, to $10.01 near 2 pm ET.
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