Loblaw Cos. Ltd. and its parent company George Weston Ltd. say they 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 that includes 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 leading to an artificial increase in packaged bread prices. George Weston will pay $247.5 million in cash, while Loblaw will pay $252.5-million, made up of $156.5-million in cash and credit for $96-million previously paid to customers by Loblaw under the Loblaw Card program.
Loblaw chairman Galen Weston, who is also chairman and chief executive of George Weston, apologized on behalf of the companies and says"this behaviour should never have happened." Lawyers representing the plaintiffs say the payout, subject to court approval, is the largest antitrust settlement in Canadian history.The Canadian Press
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Loblaw, George Weston to settle class action over bread price-fixing for $500 millionLoblaw Cos. Ltd. and its parent company George Weston Ltd. say they have agreed to pay $500-million to settle a class-action lawsuit regarding their involvement in an alleged bread price-fixing scheme.
Read more »
Loblaw, parent company George Weston agree to pay $500-million to settle bread price-fixing lawsuitsCanada’s largest grocer and holding company already publicly acknowledged their participation in price-fixing in 2017 in exchange for immunity from criminal charges
Read more »
Scholarships, bursaries awarded to Cal gradsEXTERNAL SCHOLARSHIPS Cariboo North Central Regional Skating Scholarship Kayeanna Mackenzie $500 Coast Mountain Trades Technology Instructors Ciara Branco $500 Hannah Campbell $500 Abel Hartman $500 Nathaniel Kaldahl $500 Lelah Larsen $500 First Nati
Read more »
Agawa Canyon tour train has a new $500-a-seat VIP sectionOffering 'a luxury experience to passengers looking for a truly memorable ride,' the Stone Gardner will be available for booking this upcoming season
Read more »
Calgarian warns others after being out $500 following failed car dealA Calgary man is calling out Hyundai Canada after he said a dealership in Montreal refused to refund his deposit despite him not buying the vehicle.
Read more »
Piramal Finance Plans Up to $500 Million Debut Dollar-Bond IssueIndia’s Piramal Capital and Housing Finance is planning its maiden dollar-bond sale as tighter regulations by the nation’s central bank stifle domestic funding sources for shadow lenders, according to people familiar with the matter.
Read more »