$17.4M Chinese Drywall Settlements Win Tentative OK

Law360, New York (January 18, 2013, 3:27 PM EST) -- A Louisiana federal judge on Thursday preliminarily approved four class settlements involving insurers and drywall suppliers worth a combined $17.4 million in multidistrict litigation over allegedly defective Chinese drywall.

Nationwide Mutual Insurance Co. will pay $10 million; Porter-Blaine Corp., Venture Supply Inc. and Citizens Insurance Co. of America or Hanover Insurance Co. will pay $3 million; Tobin Trading Inc. will pay $2.7 million; and Builders Mutual Insurance Co. will pay $1.7 million, according to U.S. District Judge Eldon E. Fallon's order granting a motion to preliminarily...
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