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A proposed settlement agreement for allegations of price manipulation with some beef products, could see Canadians receive compensation.
Price fixing is where businesses collude to set prices for goods and services, costing consumers as they pay an over-the-market cost.
The class action alleges the companies “participated in an unlawful conspiracy to fix, maintain, control, or lessen the production or supply of beef and fix, raise, maintain, or stabilize the price of beef sold to purchasers in Canada, starting at least as early as Jan. 1, 2015.”
The class-action began in 2022, and had law firms from B.C and Québec. The settlement was announced Thursday in a release after the two companies agreed to terms, and the settlement is now awaiting court approval.
One of the companies that agreed to the settlement was JBS, one of the largest meat processing companies in the world, the other, The National Beef Packing Company, or “National Beef” also agreed to terms.
The settlement defines “Class Members” or those eligible for compensation as customers who purchased fresh or frozen raw beef products, but excludes purchases made through the food service industry.
Canadians who want to opt out of the class action have until Aug. 10, 2026, to do so.
Details on when and how the funds will be distributed will be made public pending court approval of the settlement offer.
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