Class Action Settlement Reached In Chinese Drywall Class Action Lawsuit Against Chinese Drywall Builders, Suppliers & Insurers.
A class action settlement has been reached in consolidated class action lawsuits pending against chinese drywall maker Knauf Plasterboard Tianjin (“Knauf Plasterboard” or “Knauf”) and certain builders, drywall suppliers and their insurers including Interior/Exterior Building Supply, Banner Supply Co., the Louisiana Homebuilders Indemnity Trust, QBE Insurance Group, Chartis and State Farm Insurance, and other Knauf entities (collectively “Defendants”) in the United States District Court for Eastern District of Louisiana in New Orleans (styled Chinese-Manufactured Drywall Products Liability Litigation, MDL Civil Action Case No. 2047), alleging, among other things, that noxious sulfuric fumes from certain defective chinese drywall has caused extensive property damage to hundreds of homes, including corrosion of plumbing, electrical wiring, and appliances, according to chinese drywall class action settlement news reports.
The Knauf Plasterboard chinese drywall class action settlement reportedly establishes a demonstration remediation program for up to 300 homes in Alabama, Mississippi, Louisiana and Florida allegedly affected by defective chinese drywall that will provide for the:
- removal of the alleged defective chinese drywall;
- replacement of all electrical wiring, including switches and receptacles;
- replacement of fire safety and home security equipment;
- replacement of fixtures damaged by the alleged problem chinese drywall;
- restoration of the home to the same construction quality and finishes that existed prior to the start of the remediation work;
- compensation to the homeowner for alternative living costs during the remediation, moving and storage and personal property damage;
- the reservation of rights for bodily injury;
- attorneys fees and expenses to be negotiated by the plaintiffs steering committee and Knauf
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