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Almost seven years since news broke of an alleged conspiracy to fix the price of packaged bread across Canada, the saga is not over: the Competition Bureau continues to investigate the companies that may have been involved, and two class action lawsuits remain active. their way through the courts.
Here is a timeline of key events in the bread price fixing case.
October 31, 2017: The Competition Bureau says it is investigating allegations of bread price fixing and has obtained search warrants in the case. Several grocers confirm they are cooperating in the probe.
December 19, 2017: Loblaw and George Weston say they engaged in “industry-wide price-fixing” to raise the price of packaged bread. The companies say they have been co-operating in the Competition Bureau’s investigation since March 2015, when they self-reported to the bureau on discovering anti-competitive behaviour, and that they received immunity from prosecution. They are announcing they are offering $25 gift cards to customers amid the ongoing investigation into alleged bread price fixing.
January 31, 2018: In court documents, the Competition Bureau says at least $1.50 was added to the price of a loaf of bread between about 2001 and 2016.
December 20, 2019: A class action lawsuit in a Quebec court against multiple grocers and food companies has been certified against a number of companies allegedly involved in fixing bread prices, including Loblaw, George Weston, Metro, Sobeys, Walmart Canada, Canada Bread and Giant Tiger (all of whom have denied involvement, except Loblaw and George Weston, who later settled with the plaintiffs).
December 31, 2021: A class action lawsuit in an Ontario court covering all Canadian residents except those in Quebec who purchased packaged bread from a company named in the suit has been certified against the broadly a group of companies.
June 21, 2023: Canadian bakery giant Bread Co is fined $50 million after pleading guilty to four charges of price-fixing under the Competition Act as part of an ongoing investigation by the Competition Bureau.
25 October 2023: Canadian Bread files a statement of defense in the Ontario class action denying participation in the alleged conspiracy and saying any anti-competitive conduct it engaged in was at the direction and for the benefit of its then-majority owner Maple Leaf Foods , which is not a defendant in the case (nor is its current owner Grupo Bimbo). Maple Leaf calls Canada Bread’s accusations “baseless.”
December 20, 2023: Metro files new documents in Ontario class action accusing Loblaw and its parent company George Weston of conspiring to include it in the alleged scheme, denying participation. Sobeys has made a similar claim. Both companies deny the allegations.
July 25, 2024: Loblaw and George Weston say they have agreed to pay a combined $500 million to settle Ontario and Quebec class action lawsuits. Loblaw’s share of the settlement includes a $96 million credit for the gift cards it gave years earlier.
September 12, 2024: Canadian Bread files new documents in Ontario court as part of the class action, alleging that Maple Leaf used it as a “shield” to avoid liability in the alleged scheme. Maple Leaf was a majority shareholder of Canada Bread until 2014, and the company claims it is liable for any price-fixing activity. Maple Leaf denies the allegations.
This report was first published by The Canadian Press on September 19, 2024.
Companies in this story: (TSX:L, TSX:MFI, TSX:MRU, TSX:EMP.A, TSX:WN)
(Except translation, this story has not been edited by achinews staff and is published from a syndicated feed.)
source link https://canadanewsmedia.ca/a-timeline-of-events-in-the-bread-price-fixing-scandal/
