Fasken acted for Cermaq Canada Ltd., Cermaq Group AS, Cermaq Norway AQ and Cermaq US LLC in a proposed price fixing class action filed in the Federal Court of Canada.
The plaintiffs alleged that the defendants participated in a price-fixing conspiracy to increase the price of farmed Atlantic salmon, which allegedly caused loss and damage to direct, indirect and umbrella purchasers of salmon, or products containing salmon, in Canada during the class period. The plaintiffs asserted a claim under section 36 of the Competition Act for breaches of the Act’s conspiracy provisions. The plaintiffs were seeking damages up to $500 million CAD.
The parties exchanged certification submissions and reached a Canada-wide settlement for $5,250,000 CAD before the certification hearing in June 2023. The proposed Settlement Agreement was approved in a decision indexed at Breckon v. Cermaq Canada Ltd., 2024 FC 225.
Fasken acted for Cermaq with a team including Andrew Borrell and Alexandra Mitretodis.
Jurisdiction
- British Columbia
