An Ontario judge has approved a settlement in a class-action lawsuit that accused Loblaw and its parent company George Weston Ltd. of engaging in an industry-wide scheme to fix the price of bread.
Judge called settlement excellent, fair and in the best interest of class members
An Ontario judge has approved a settlement in a class-action lawsuit that accused Loblaw and its parent company George Weston Ltd. of engaging in an industry-wide scheme to fix the price of bread.
In a written decision, Judge Ed Morgan says the $500-million settlement is excellent, fair and in the best interest of class members.
The settlement was reached last year and includes a combined $404 million to be paid by Loblaw and George Weston.
The remaining $96 million is accounted for through a gift card program Loblaw announced in 2017 to make amends for co-ordinating the price of some packaged bread back to 2001.
Once legal fees and other court expenses are paid, records show 78 per cent of the settlement funds will be allocated to residents in Canada outside Quebec and 22 per cent will wind up with people in that province.
Those eligible for a piece of the settlement had to have purchased packaged bread for personal use or for resale between January 2001 and December 2021.