The last of seven concrete companies accused of a price-fixing scheme in central Indiana has agreed to pay $5.5 million to settle the class action antitrust lawsuit. Builders Concrete and Supply of Fishers has agreed to pay out the settlement in $1.1 million installments over the next five years. If a payment is missed, the settlement will jump to $90 million.

Builders Concrete is one of seven Indianapolis-area concrete companies accused of conspiring to fix the price of ready-mix concrete from January 2000 to May 2004. Almost anyone who bought concrete in central Indiana during that time was cheated, say investigators. A separate criminal case resulted in fines and prison sentences for executives from several of the companies. Irving Materials, Inc. of Greenfield agreed to a $29 million settlement in October 2009. 

If the Builders Concrete settlement is approved this week, the combined settlements from all seven companies will total more than $60 million. More than 5,000 plaintiffs will share in the historic settlement, which will be the first time an Indiana antitrust case has ever returned 100 percent of overcharge fees to claiming class members.