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Burford Seeks Order Barring Sysco From Settling Antitrust Suit

By  |  March 13, 2023

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.

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    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.