On April 23, 2015, the parties executed a settlement agreement (the “Global Settlement Agreement”) to resolve the litigation in its entirety. The Global Settlement Agreement provides for XL Foods to pay CDN $4 million (the “Settlement Amount”) to resolve claims relating to:
economic loss suffered by class members as a result of having purchased Recalled XL Beef and/or beef that cannot be positively identified as not being Recalled XL Beef (“Unidentifiable Beef”);
personal injuries suffered by class members as a result of having consumed Recalled XL Beef; and
claims by Canadian provincial health care providers in relation expenses that they incurred in treating personal injuries suffered by class members as a result of having consumed Recalled XL Beef.
In return for the Settlement Amount, XL Foods will receive releases and the class action will be dismissed. The Global Settlement Agreement is a compromise of disputed claims and is not an admission of liability, wrongdoing or fault on the part of XL Foods who has denied, and continues to deny, the allegations made against it.
The Global Settlement Agreement was approved by the Alberta court on September 23, 2015 as being fair, reasonable, and in the best interests of class members.