Judge OKs $1B In Chinese Drywall Settlements

Law360, Los Angeles (February 7, 2013, 11:18 PM EST) -- A Louisiana federal judge on Thursday certified five classes of property owners and approved their settlement agreements worth a combined $1 billion in wide-ranging multidistrict litigation over property damage allegedly caused by defective Chinese drywall.

While the settlements are estimated to be in excess of $1 billion, the total value will depend on the costs of remediation of properties containing the drywall, class counsel Arnold Levin of Levin Fishbein Sedran & Berman said in a statement. The settlements, which involve builders, suppliers and installers of the...
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