U.S. settlement reached in Chinese drywall case

Friday, December 16th, 2011 Litigation Property Subrogation

Owners of thousands of U.S. homes tainted with foul-smelling Chinese drywall agreed to a legal settlement on Thursday with a German manufacturer. An attorney for the plaintiffs, Russ Herman, said the settlement reached with Knauf International was worth $800 million to $1 billion, but a lawyer for the company said the final amount would likely be much lower. Knauf International’s Chinese subsidiary made the tainted product, which has been blamed for producing a stench and fumes that damage air conditioning, wiring and fixtures.


External References & Further Reading
http://www.reuters.com/article/2011/12/15/us-drywall-settlement-idUSTRE7BE1NK20111215?feedType=RSS&feedName=domesticNews
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