75
Judge approves $500M settlement in Loblaw, George Weston bread price-fixing case
(ca.finance.yahoo.com)
this post was submitted on 26 May 2025
75 points (100.0% liked)
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$25 would surely compensate for being overcharged for bread for 20 years.
They should be made to support Canadian food banks with at-cost bread and shelf stable food until they pay off the fine. Gift cards are just insulting.
The penalty should start with the profit made, then there needs to be a fine on top of that for half again what the profits were. Otherwise it is just the cost of doing business
Did some quick and rough math: assuming they had 2000 stores (tried to average out the years I had data for) and that they only overcharged by $1.50, they would've made $500 million by each store selling just 22 loaves per day. And that's not considering the fact they also sold their bread wholesale to restaurants (and I'm pretty sure other non-loblaws owned stores).
Wording is a little weird there. Thought you were saying that each of the 2000 stores was making $500m lol