Sun. Mar 3rd, 2024

Fixation salmon prices: A class action settled amicably by farmers

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Norway is the largest producer of Atlantic salmon.

Radio-Canada

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Seven salmon farmers, including Newfoundland and Labrador companies Mowi and Grieg, have agreed to pay a total of $5 million to settle class action.

Cermaq Canada, Grieg Seafood, Lerøy Seafood AS, Marine Harvest Atlantic Canada, Mowi ASA, Nova Sea AS and Sjór AS are accused of conspiring to manipulate the Norwegian market in order to influence salmon prices on the world market.

The allegations have not been proven in court and the companies agreed to settle the class action out of court, thus avoiding a trial.

The companies have denied the accusation and the agreement does not include admissions of guilt.

Class members who purchased over $1 million worth of salmon in Canada between April 10, 2013 and February 20, 2019 can make a claim for compensation.

Grocery stores, distributors, fish processing companies, hotel chains… This type of company, which buys in large quantities, underlines Linda Visser of the law firm Siskinds, involved in the x27;collective action.

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ELSE ON NEWS: Quebec entrepreneur Daniel Langlois found dead in the Caribbean< p class="StyledBodyHtmlParagraph-sc-48221190-4 hnvfyV">The amount of compensation will vary depending on the quantities of salmon purchased by each company as well as its number of claimants.

A donation of $250,000 will be given to Food Banks Canada as compensation to consumers.

The agreement must be approved by the Federal Court.

With information from CBC

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