$8M settlement proposed in beef price

$8M settlement proposed in beef price-fixing class action

Deal still needs to be approved by the courts, not considered admission of wrongdoing by companies

Canadians who bought beef after 2015 could be eligible for a share of nearly $8 million as part of a proposed settlement with companies over allegations of price-fixing.

A statement from multiple Canadian law firms says JBS USA Company, Swift Beef Company, JBS Packerland Inc. and JBS Canada ULC have agreed to pay $7.49 million while National Beef has agreed to pay $495,000.

The deal still needs to be approved by the courts and is not considered an admission of wrongdoing by the companies. A settlement hearing for members in all provinces except Quebec is scheduled for Sept. 10, while the Quebec settlement hearing is slated for Dec. 1 of this year.

The class-action lawsuit was filed in 2022 alleging that companies that sell beef were involved in an unlawful conspiracy involving the supply or price of beef sold in Canada.

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The settlement was brought forward by a number of legal teams, including CFM Lawyers LLP in B.C., Strosberg Wingfield Sasso LLP in Ontario and Belleau Lapointe LLP in Quebec.

The settlement does not include beef products and beef purchased by the food service industry, such as restaurants.

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The law firms say class actions continue against certain defendants from the companies Cargill and Tyson.

Any eligible Canadians who want to opt out — which they would need to do if they wanted to bring a lawsuit of their own — have to do so by Aug. 10.

The settlement over beef comes after Canadians began receiving payments in May related to a bread price-fixing class action involving a number of companies.

Loblaw and its parent company George Weston Ltd. agreed in 2024 to pay $500 million to settle the class action, and any Canadians who bought bread between 2001 and 2021 were eligible to apply.