By Lucas Casaletto, The Canadian Press Jul 25, 2024 01:38:15 PM
Loblaw Cos. Ltd. and its parent company, George Weston Ltd., have agreed to pay $500 million to settle a class-action lawsuit regarding their involvement in an alleged bread price-fixing scheme.
The class-action case was brought against a group of companies, including Loblaw and the Weston companies, Metro, Walmart Canada, Giant Tiger, and Sobeys, and its owner, Empire Co. Ltd.
The plaintiffs allege those companies participated in a 14-year industry-wide price-fixing conspiracy between 2001 and 2015, which artificially increased packaged bread prices.
George Weston will pay $247.5 million in cash, while Loblaw will pay $252.5 million, which includes $156.5 million in cash and credit for $96 million previously paid to customers by Loblaw under the Loblaw Card program.
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