Now Burford boss in the US is accused of betrayal as firm continues to battle short-sellers
- Katharine Wolanyk has been accused by a company it was advising of passing trade secrets to a rival whose board she joined
- It is the latest courtroom spat involving the AIM-listed company
Burford Capital has been dragged into a legal row in the US in a further blow for the litigation financier as it battles short-sellers.
One of Burford’s executives has been accused by a company it was advising of passing trade secrets to a rival whose board she joined.
It is the latest courtroom spat involving the AIM-listed company, which has come under fire from short-seller Muddy Waters over its accounting and governance.
Burford Capital has been dragged into a legal row in the US
Katharine Wolanyk, who runs Burford’s Chicago office, has been named as a defendant in a case filed by Slingshot Technologies, a company that hoovers up patents.
Acting for Burford, Wolanyk was advising Slingshot on a potential deal to buy a portfolio of telecoms patents owned by Singapore-based Transpacific IP.
Slingshot was in talks with Burford about Burford funding the acquisition – another aspect of its business. Slingshot even signed a non-disclosure agreement with Burford, Slingshot claims in court papers seen by The Mail on Sunday.
But Transpacific went on to sell the portfolio to a US rival of Slingshot called Acacia Research – shortly after Wolanyk had joined Acacia’s board.
Slingshot accuses her of using information gained from her work for the firm to help Acacia buy the assets.
Wolanyk denies this and says she only knew about the deal after it was completed. She has applied to have the case thrown out. Burford and Wolanyk declined to comment.
It emerged last year that another Burford executive was accused of trading confidential documents for a sex tape.