Chinese Drywall Developer Makes $5M Deal With Homeowners

Law360, New York (May 15, 2012, 2:12 PM EDT) -- A Florida real estate developer on Monday agreed to pay $4.8 million to a class of condominium owners who claim that Chinese-manufactured drywall used in the construction of the homes caused health problems and property damage.

RCR Holdings II LLC will set up a fund for 182 named plaintiffs and 67 other homeowners in its Villa Largo complex in Boynton Beach, Fla., as part of the proposed settlement. If approved by U.S. District Judge Eldon E. Fallon, the deal will settle all of the claims against...
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