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Peter EvansVarious brands of bread sit on shelves in a grocery store in Toronto on Wednesday Nov. 1, 2017.Consumers get their slice of bread price fixing settlement:Loblaws and parent company George Weston have agreed to pay $500 million to settle two class action lawsuits
related to the scheme. The two companies revealed the settlement before markets opened this morning. For more than a decade starting in 2001, it’s alleged that Loblaws and other industry players in the grocery and bakery businesses worked together to artificially inflate the price of bread by as much as 10 cents per loaf. Loblaws blew the whistle on the scheme in 2017, getting immunity from criminal prosecution by assisting with an ongoing Competition Bureau probe into the matter.
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