Loblaws to pay out $500 million in bread price-fixing class action

Loblaws is slated to pay out the largest class action settlement in Canadian history later this year as it agrees to distribute $500 million to people affected by its bread price-fixing scheme.

The settlements will be paid out in several ways. In 2018, $96 million was already paid out in the form of $25 Loblaws gift cards. It's still undetermined how Canadians will get their hands on a chunk of the remaining $404 million, but it is slated to go out around the end of October.

According to a report in The Globe and Mail, Canadians won't have to produce a receipt to get a slice of the settlement money, but they likely will need to sign a document claiming that they bought bread between 2015 and 2018. The report also notes that people who got a $25 gift card in 2018 are still eligible for the larger chunk of the settlement coming later this year.

Source: The Globe and Mail