Sysco Corporation is at the center of a widening legal dispute with the world’s largest litigation funder, Burford Capital Limited. In their complaint, Burford seeks a court order that would bar Sysco from settling price-fixing claims against major US chicken, pork and beef producers. This case has serious implications for both companies and has yet to be resolved.
Burford subsidiaries Glaz, Posen Investments and Kensosha Investments on Friday told a New York Supreme Court judge that Burford had advanced more than $140 million to Sysco in exchange for a share of any settlements in the antitrust litigation.
Related: US/UK: Sysco buys rival foodservice firm Brakes Group for $3.1 billion
Sysco was required to get Burford’s approval before signing any deals, the funder said. Burford claimed Sysco was preparing to settle for “low-ball” amounts and a “pittance.”
An arbitration panel awarded Burford a preliminary injunction in a 2-1 order on March 10, barring Sysco from finalizing its proposed settlements. Burford’s new lawsuit in New York seeks confirmation of the arbitration panel’s award.
Featured News
Judge Allows FTC Antitrust Case Against Amazon to Move Forward
Oct 1, 2024 by
CPI
SAP Leader Urges Caution on EU AI Rules, Warns of Competitive Disadvantage
Oct 1, 2024 by
CPI
Colorado’s Grocery Workers Unite to Oppose $24.6 Billion Supermarket Merge
Oct 1, 2024 by
CPI
Canada’s Competition Bureau Warns Businesses of Tougher Enforcement
Oct 1, 2024 by
CPI
Top Antitrust Lawyers Launch New Boutique Firm
Oct 1, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh