TORONTO — Maple Leaf's top executive says a multimillion-dollar settlement of a class-action lawsuit will give people affected by the listeriosis outbreak prompt compensation.

Michael McCain says the goal has always been to negotiate a "fair and early" settlement.

Maple Leaf Foods (TSX:MFI) and the lawyers behind the class-action lawsuits announced the deal today.

In August, Maple Leaf Foods (TSX:MFI) began a recall of tainted meat products linked to a listeriosis outbreak that would ultimately claim 20 lives across Canada.

The settlement, which still needs to be approved by the courts, will see Maple Leaf pay out up to $27 million.

Approval hearings will be held before a judge early in the new year.

"Our clients are delighted with the result," Ted Charney of law firm Falconer Charney said in a release.

"We are working towards obtaining court approval and ensuring that the class members are paid immediately."

McCain, Maple Leaf's president and CEO, had earlier apologized for the outbreak and said his company would take full responsibility.

The settlement calls on Maple Leaf to pay between $25 million and $27 million.

Damages will be paid to people who purchased or ate Maple Leaf products included in the recall, and also companies that bought the products for resale.

The lawyers say the amount of money each class member receives will depend upon the severity of their illness.