Concrete Co. Cops To Price-Fixing Scheme

Law360, New York (August 24, 2011, 10:06 PM EDT) -- An Iowa-based ready-mix concrete company pled guilty Wednesday to engaging in a price-fixing and bid-rigging scheme with other concrete producers, making it the latest to admit its role in the plot in recent months.

Great Lakes Concrete Inc. faces a fine of $100 million but could see that number jump to twice the financial gain it derived from the price-fixing or twice the loss suffered by the victims of the crime, if either amount is greater than the statutory fine.

According to court documents, Great Lakes...
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