Axia Advisors, LLC reposted this
https://lnkd.in/e_PHqEg8 Canadian grocery store Loblaw Cos. and its parent company, George Weston, agreed to a C$500 million class action settlement (about US$362 million) over a bread price-fixing scandal dating back to 2001. The class action was filed in 2017 after Canada’s competition regulator raided Loblaw’s corporate head offices looking into alleged price fixing. The class action lawsuit accused Loblaw Cos. and George Weston of colluding on bread prices. The settlement included C$404 million in cash plus C$96 million from a prior customer-card program. Loblaw and George Weston apologized and have committed to compliance reforms. Lawyers for the plaintiffs said they are now prepared for trial in actions against other companies that were also alleged to be involved in the price fixing, such as Sobeys, Metro, and Walmart Canada. #grocery #Canada #pricefixing #Loblaw #classaction #settlement https://lnkd.in/egPK9wbs
