Cemex, Others Settle Homeowners' Price-Fixing Action

Law360, Los Angeles (March 9, 2012, 7:25 PM EST) -- A class of Florida homeowners on Friday resolved claims they were cheated out of millions of dollars in a price-fixing scheme hatched during the 2008 housing market collapse between Cemex Inc. and three other cement companies.

U.S. District Judge Cecilia Altonaga signed off on a stipulated settlement between indirect purchasers Gables of Vero Beach Condominiums Association and Cemex, Florida Rock Industries Inc., Prestige AB Management Co. LLC. and Tarmac America LLC.

Terms of the settlement were not disclosed.

The deal resolves claims asserted in the plaintiffs'...
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