2 Developers Exit Evanston Drywall Coverage Suit

Law360, New York (February 28, 2011, 3:38 PM EST) -- Two real estate developers on Thursday exited Evanston Insurance Co.'s declaratory judgment suit in Virginia against defendants in the multidistrict litigation over defective Chinese drywall, agreeing to waive their coverage claims with the insurer.

Judge Raymond A. Jackson of the U.S. District Court for the Eastern District of Virginia dismissed Wermers Development Inc. and Genesis Group Inc. without prejudice from the suit, greenlighting a deal the two companies struck with Evanston and leaving the parties to pay their own attorneys' fees and costs.

John S. Norris...
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