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Cement outfit paying $29M to settle price fixing suit
Federal judge must approve settlement
Updated: Tuesday, 27 Oct 2009, 9:18 PM EDT
Published : Tuesday, 27 Oct 2009, 9:18 PM EDT
INDIANAPOLIS (AP) - A Central Indiana concrete company has agreed to pay $29 million to settle a class action antitrust lawsuit.
Irving Materials of Greenfield and six other companies allegedly
conspired to fix the price of ready-mixed concrete.
A federal judge must approve the settlement.
Four former Irving Materials executives were sentenced to
prison in 2005 for their role in the scheme.
Investigators estimate IMI made $225 million from the scheme
from 2000 to 2004.
A health care battle is heating up in Washington and here in Indianapolis.
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