Florida homeowners with tainted drywall get $55 million

 Wednesday, June 15, 2011

 Reuters

Hundreds of Florida homeowners suffering with tainted Chinese drywall will share $55 million in a deal that also accuses a global drywall maker of lying about the product’s safety, according to court documents.
The settlement will be funded by Banner Supply Co, its affiliates and their insurers, which agreed to set aside the money under a preliminary settlement. A spokeswoman for the plaintiffs’ attorney said the deal covers between 500 and 800 homes which were supplied with drywall by Banner. The settlement must be approved by a federal judge in New Orleans who is overseeing lawsuits related to the drywall.
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