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Loblaw settles alleged bread price-fixing lawsuit

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Grocery giant Loblaw and its parent company, George Weston, are reportedly settling a class-action lawsuit.

According to reports, the grocer will be paying $500 million to settle a lawsuit over their involvement in an alleged bread price-fixing scheme.

The suit alleges a 14-year price-fixing scheme involving Loblaw, Weston, Metro, Walmart Canada, Giant Tiger, and Sobeys.

George Weston is slated to pay $247.5 million, while Loblaw and other grocery chains under its umbrella will cover the rest, paying $252.5 million.

Metro, Sobeys, Walmart Canada, and Giant Tiger all deny involvement in the supposed scheme.

Lawyers for the plaintiffs say if approved, this payout would be the largest antitrust settlement in Canadian history.

READ MORE: Spirits Canada launches lawsuit against LCBO over pricing policies

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