US retail giant Walmart has agreed to pay $45 million (€41 million) to settle a class action lawsuit alleging its customers paid more than the lowest in-store advertised price for an array of products, including seafood.

Walmart has denied any wrongdoing in documents submitted to the court but agreed to pay to settle the litigation.

"We still deny the allegations, however we believe a settlement is in the best interest of both parties," Kelly Hellbusch, a Walmart spokesperson, told IntraFish in a statement Monday.