- To resolve a class-action lawsuit, seven businesses have agreed to pay more than $5 million Canadian.
- The companies have agreed to settle the lawsuit without a trial.
- The approval of the settlement by the Federal Court remains pending.
To resolve a class-action lawsuit, seven businesses that were allegedly plotting to manipulate the price of salmon globally have agreed to pay more than $5 million Canadian.
According to the lawsuit, Cermaq Canada, Grieg Seafood, Lerøy Seafood AS, Mowi ASA, Nova Sea AS, and Sjór AS colluded to manipulate salmon prices on the Norwegian spot market and affect salmon prices globally.
Class-action lawsuit
The companies have agreed to settle the lawsuit without a trial, despite the allegation not being proven in court. The settlement does not require an admission of guilt, and the companies have refuted any wrongdoing.
Claim submission is open to class-action members who bought salmon in Canada for more than $1 million between April 10, 2013, and February 20, 2019.
Rather than paying customers, $250,000 will be donated to Food Banks Canada. The approval of the settlement by the Federal Court remains pending.
