11:43 AM EDT, 09/12/2024 (MT Newswires) -- Canada Bread on Thursday said it has filed a Statement of Defence and Crossclaim in the Ontario Superior Court of Justice against Maple Leaf Foods ( MLFNF ) over Canada Bread's damages in relation to the bread price-fixing matter.

According to the claim, from 1995 to 2014, Maple Leaf, as controlling shareholder, appointed directors to the Canada Bread board of directors. Some of Maple Leaf's most senior officers operated Canada Bread and occupied the most senior executive role. Maple Leaf represented to Canada Bread that it would comply with all applicable laws.

The claim alleges that Maple Leaf's personnel directed and participated in certain anti-competitive conduct, which was the subject of an investigation by the Competition Bureau of Canada. The investigation led to class actions being brought against Canada Bread and resulted in the company paying a fine of $50 million last year.

Grupo Bimbo has been the owner of Canada Bread since 2014.

According to the Globe and Mail newspaper, Maple Leaf has repeatedly denied any unlawful conduct at Canada Bread while it was a shareholder. MT Newswire has reached out to Maple Leaf Foods ( MLFNF ) for a comment but the company has not yet responded.

Maple Leaf Foods ( MLFNF ) was last seen up $0.13 to $22.07, on the Toronto Stock Exchange.

Price: 22.07, Change: +0.13, Percent Change: +0.59