A judge in Ontario has given the green light to a resolution in a collective legal action case that alleged Loblaw Cos. Ltd. and its mother company George Weston Ltd. were involved in a widespread plan to manipulate bread prices.
In his written ruling, judge Ed Morgan deemed the $500 million resolution as superb, just, and advantageous for members of the class.
The agreement was struck last year and involves a total of $404 million to be provided by Loblaw and George Weston.
The remaining $96 million is covered by a gift card initiative introduced by Loblaw in 2017 as a way to compensate for coordinating the pricing of specific packaged bread products dating back to 2001.
After settling legal costs and other court fees, figures reveal that 78% of the settlement funds will be assigned to individuals in Canada excluding Quebec, while 22% will be allocated to residents in that province.
To be eligible for a portion of the settlement, individuals must have bought packaged bread for personal consumption or resale between January 2001 and December 2021.
