10:31 AM EDT, 05/26/2025 (MT Newswires) -- An Ontario judge has approved a settlement in a class-action lawsuit that accused Loblaw Cos. Ltd. ( LBLCF ) and its parent company George Weston Ltd. ( WNGRF ) of engaging in an industry-wide scheme to fix the price of bread, The Canadian Press is reporting Monday.

In a written decision, the report said, judge Ed Morgan says the $500-million settlement is excellent, fair and in the best interest of class members.

It notes the settlement was reached last year and includes a combined $404 million to be paid by Loblaw ( LBLCF ) and George Weston. The remaining $96 million is accounted for through a gift card program Loblaw ( LBLCF ) announced in 2017 to make amends for co-ordinating the price of some packaged bread back to 2001.

Once legal fees and other court expenses are paid, records show 78% of the settlement funds will be allocated to residents in Canada outside Quebec and 22% will wind up with people in that province.

Those eligible for a piece of the settlement had to have purchased packaged bread for personal use or for resale between January 2001 and December 2021.

(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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