$248 Million Chinese Drywall Settlement Affects Property Owners

PHILADELPHIA, Sept. 30, 2019 /PRNewswire/ -- The following is being released by Settlement Class Counsel and Taishan Gypsum Company and other entities in the Chinese Drywall Settlement.

A Settlement has been reached with Taishan Gypsum Company and other entities ("Defendants") in class action lawsuits involving drywall imported from China.  The lawsuits claim that the drywall caused property damage and other injuries.  The Defendants deny that they did anything wrong.

The Settlement includes property owners with Chinese Drywall attributed to the Defendants.  Go to www.ChineseDrywallSettlement.com ("website") for a full description of the Class and a Master Spreadsheet listing Known Class Members with Chinese Drywall covered by the Settlement.  Anyone interested in participating in the settlement who is not already listed on the Master Spreadsheet must submit a Claim Form online or by mail.  The deadline to submit a claim will be no earlier than December 11, 2019, and will be updated on the website.

The Defendants will contribute $248 million into a Settlement Fund.  Eligible claimants will receive payments according to an Allocation Model (more information at website).  Any approved payment will compensate for remediation damages and other loss claims.      

Anyone not listed on the Master Spreadsheet who does nothing will not be considered for any payment and will be barred from individually suing the Defendants.  Anyone who wants to keep any right to individually sue the Defendants must exclude themselves from the Settlement by November 27, 2019.  Class Members who want to object to the Settlement must do so by November 27, 2019.

The Court will hold a hearing on December 11, 2019, to consider whether to approve the Settlement. Class Counsel will also request attorneys' fees and costs not to exceed 33% of the Settlement Fund. Class Members or their own lawyers may appear and ask to speak at the hearing at their own expense.

For More Information and a Detailed Notice, please visit www.ChineseDrywallSettlement.com or call 1-866-573-6691.

SOURCE Settlement Class Counsel and Taishan Gypsum Company