Loblaw Cos. Ltd. and its parent company George Weston Ltd. have settled their involvement in a pair of class-action lawsuits related to an alleged industry-wide scheme to fix the price of bread.
Lawyers involved in the case say the $500 million settlement was announced last year and executed on Jan. 31, but is still subject to court approval in Ontario and Quebec.
Loblaw and George Weston are paying a combined $404 million, with the remaining $96 million accounted for through Loblaw’s gift card program announced in 2017.
