An Ontario superior court judge has approved a $500 million settlement in a class action suit related to a bread price fixing scheme.
Judge Edward M. Morgan handed down the decision against Grocery giant Loblaw, Weston Bakeries Limited, and parent company George Weston Limited in early May.
The class action included more than 20 million members, Morgan said in his decision.
The settlement includes a settlement payment of $404 million plus the $96 million that Loblaw previously paid out in gift cards to potential class action members.
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The funds will be split with $390 million going to the Ontario action and $110 million to a parallel Quebec action.
Loblaw and George Weston Limited announced in July 2024 they’d reached a settlement and apologized for their part in the price-fixing.
In late 2017, Canada’s competition bureau began an investigation over allegations of industry-wide bread price fixing between the late 2000s and early 2010s.
The bureau found that grocers had conspired to raise bread prices.
In early 2018, Loblaw offered $25 gift cards to Canadian consumers as an olive branch related to the price fixing.
Loblaw also admitted to its rule in the price collusion.
The parties named in the class action suite also include Canada Bread Company, Grupo Bimbo, Wal-Mart Canada Corp., Sobeys, Inc., Giant Tiger Stores Limited and several others.
