Uponor Pipe Plaintiffs Urge Judge To Approve $21M Deal
Law360, New York (August 25, 2015, 5:43 PM EDT) -- Homeowners and landlords claiming that Uponor Corp. high-zinc “yellow brass” fittings they had installed were prone to corrosion and leaks urged a Minnesota federal judge on Monday to grant final approval to a settlement worth up to $21 million.
Uponor attorney John R. Schleiter told Law360 on Tuesday that the “evergreen” agreement would require Uponor to pay a minimum of $3 million into a common benefit fund. That fund would provide individual class members with up to $60,000 for residential property damage claims and up to $100,000 for owners of nonresidential buildings.
Uponor would also pay the plaintiffs’ attorneys $7.5 million...
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