This is a news story, published by financialpost, that relates primarily to McCain Foods Ltd. news.
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frozen potato product marketfinancialpost
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72% Informative
McCain Foods Ltd. and Cavendish Farms Corp. are accused of fixing prices for frozen French fries, hash browns, tater tots and other products.
The four companies account for about 98 per cent of the US$68-billion frozen potato products market.
McCain Foods has denied the accusations while Cavendish has yet to comment.
None of the allegations have been proven in court, but here's what you need to know.
Loblaw Cos. Ltd. and its parent company George Weston Ltd. agreed to pay $500 million to settle a class-action lawsuit regarding their involvement in a bread price-fixing scheme that plaintiffs said happened over a 14-year period.
Of the $500-million settlement, $96 million was already paid out in the form of $ 25 Loblaw gift cards in 2018 .
The plan for disbursing the remaining $404 million has yet to be finalized.
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