DPK in the News/ Burford Secures “Initial Control” Over Sysco Antitrust Settlements
Dewey Pegno & Kramarsky represents subsidiaries of Burford Capital Limited, the world’s largest litigation funder, in litigation against Sysco Corporation, the largest marketer and distributor of foodservice products in North America.
According to Reuters, “A dispute between Sysco Corp (SYY.N) and the world’s largest litigation funder is broadening, as Burford Capital Limited seeks a court order to bar the food distribution giant from settling price-fixing claims against major U.S. chicken, pork and beef producers. . . 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.”
Law360 also covered recent developments in the litigation: “Under the terms of a $140 million legal investment deal, Burford Capital Ltd. has “initial control” over Sysco Corp.’s ability to settle big-dollar antitrust cases against food suppliers, a New York arbitration panel has said in an order blocking two such deals. In an unusual public dispute involving the world’s largest legal investor, the panel issued a preliminary injunction Friday blocking Sysco from finalizing proposed settlements without Burford’s approval.”
DPK partner Tom Dewey represents Burford and its subsidiaries in the litigation.