Sponsored by DiagnaMed Holdings

More food price fixing?

Major food chains, including Metro and Loblaw, are facing serious allegations of illegally manipulating meat prices, potentially resulting in billions of dollars in excess payments by households. The request for collective action, filed with the Superior Court of Quebec by LPC Avocat and Renno Vathilakis, accuses these companies of deliberately violating price-setting laws to amass substantial profits.

Alongside Metro and Loblaw, other companies like Walmart, George Weston, and Aliments Maple Leaf have also been singled out in this legal action. However, it’s important to note that these allegations are strongly contested by some of the companies involved, and the court will need to decide whether to proceed with the case.

At the heart of the request is an email dated March 2007, where former Maple Leaf President Michael McCain discusses profit-boosting strategies with Paul Del Duca, the then Senior Vice-President at Metro in Ontario.

You can read more on the matter here.

What’s going on?

• Sigma Lithium Is Holding Discussions With Multiple Potential Acquirers (theDeepDive)

• General Motors EV Production Figures in 1H 2023 Were Weaker Than Expected (theDeepDive)

• Walmart Buys Tiger Global’s Flipkart Stake for $1.4 Billion (Bloomberg)

• Is The Recession Here? Swimming Pools And RVs Sales Are Telling A Tale (theDeepDive)

• Insight: Promising new Alzheimer's drugs may benefit whites more than Blacks (Reuters)

• Volkswagen’s Investment In Xpeng Could Be A Template For Future EV Deals (theDeepDive)

• A 5% US Mortgage Rate Is Seen as Tipping Point to Unlock Supply (Bloomberg)

• Is The Rich Ready For Their Tax? House Democrats Introduce OLIGARCH Act (theDeepDive)

• Niger Coup Leaders Allege Ousted Government Authorized French Attack to Free President Bazoum (theDeepDive)

Is oil on the move?

The stock market and stuff

• Meme Stocks Soar: A Sign of Solid Momentum in the Market or a Top? (theDeepDive)

• Jack Dorsey Isn’t So Pleased About Sam Altman’s Eye-Scanning Crypto Project (theDeepDive)

• SoFi Surges Most in a Year After Boosting 2023 Revenue Forecast (Bloomberg)

In the juniors

• Patriot Battery Metals Sees Shares Decline Despite Strong Resource Estimate for Corvette Property (theDeepDive)

• Power Nickel Exercises Option To Take 50% Ownership In Nisk Project (theDeepDive)

• Trucking Giant Yellow Shuts Down Operations (WSJ)

FULL DISCLOSURE: DiagnaMed Holdings is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of DiangaMed Holdings. The author has been compensated to cover DiagnaMed Holdings on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.