A Federal Judge has approved a group of class-action settlements related to defective Chinese drywall that bedeviled homeowners across the south.
A US district judge in New Orleans approved five class-action settlements which call for a Chinese drywall maker and other construction and supply outfits to pay hundreds of millions of dollars. The defective drywall was used in about 12 to 20,000 homes and businesses mainly in golf coast states beginning around 2005.
Homeowners complained of a series of problems caused by the drywall ranging from overpowering odors to corroding pipes and wiring and health problems.
One plaintiff's attorney says the settlement will cover over 10,000 property owners and could exceed one billion dollars.