Burford plunges 37% after $16 bn Argentina ruling overturned

Burford Capital (BUR) stock plunged over 37% after a US appeals court overturned a $16.1 billion ruling against Argentina. The court reversed a decision favoring former YPF SA shareholders over the nationalisation of the oil company. This ruling eliminates a major potential payout for Burford, which was expected to receive a significant share of the award.