Macdonald expressed optimism that the legal resolution might eventually lead to financial relief for consumers.
"It would be great to give money out to a lot of people, maybe bring the price down for everyone," he said.
The class-action certification ruling issued last year by British Columbia Supreme Court Justice Michael Thomas detailed allegations that senior meat industry executives secretly exchanged sensitive market information to manipulate livestock supplies and inflate consumer costs.
The lawsuit further alleges that the companies coordinated periodic reductions in cattle slaughter volumes and plant capacities to manage the Canadian beef supply.
Representatives for the three involved law firms, as well as the defendant meat companies, did not provide comments on the matter.
The exclusion terms specify that the settlement does not cover beef products purchased by the food service industry, including restaurants.
>>> Rezvani QuickShift Brings Gated Shifter to DCT Supercars, But No Clutch Pedal
Settlement fund distribution guidelines will be determined during upcoming court approval hearings scheduled for September in British Columbia and December in Quebec.
