People with Chinese Drywall Claims Should Register for $17.4 Million in Four Class Action Settlements

NEW ORLEANS, Feb. 8, 2013 /PRNewswire-USNewswire/ -- The following is being released by the law firms of Levin, Fishbein, Sedran & Berman, Herman, Herman & Katz, and the Law Offices of Richard Serpe, P.C.

"Four additional Settlements have been reached in class action litigation involving drywall imported to the U.S. from China," announced Plaintiffs' Liaison Counsel Russ Herman, of Herman, Herman & Katz. The litigation claims that Chinese drywall causes property damage, including damage to fixtures, electrical wiring, corrosion of pipes, and damage to or destruction of air conditioners, HVAC systems, refrigerators, and other appliances.  Some people have also claimed that they suffered bodily injury as a result of exposure to Chinese drywall.

The companies being sued are Venture Supply, which sold drywall, and numerous distributors, suppliers, builders, developers, installers, and others who were associated with Chinese drywall.  Some of these Defendants ("Participating Defendants") and some of their insurance companies ("Participating Insurers") have agreed to these Settlements.  The Participating Defendants and Participating Insurers deny they did anything wrong.

"These Settlements address a range of claims that people may have about Chinese drywall – whether they are homeowners, renters, developers, or others who have sustained losses.  And in combination with the resolution of other class action lawsuits, it will ensure that people are compensated through cash payments for Chinese drywall that caused damage," said Plaintiffs' Lead Counsel Arnold Levin of Levin, Fishbein, Sedran & Berman.

There are four separate Classes for each of the four Settlements:

• Nationwide Insureds Settlement Class
• Porter-Blaine/Venture Supply Settlement Class
• Tobin Trading and Installers Settlement Class
• Builders Mutual Insureds Settlement Class

Individuals and businesses are Class Members and likely included in one or more of the Settlements if they have any claim for property damage or personal injuries related to Chinese drywall sold by, used by, installed by, or otherwise within the legal responsibility of a Participating Defendant.  Most Class Members will likely be residents of Virginia; however, a few Class Members may be residents of other states within the U.S.  More information about the type of damage caused by Chinese drywall, including pictures of the included drywall and damage the lawsuit claims it causes, can be found at the Settlement Website, ChineseDrywallClass-VA.com.  A list of Participating Defendants for each of the Settlements can also be found on the Settlement Website.

Currently, there is not a claims process for these Settlements.  At a later date the Court will approve a plan to distribute benefits to Class Members.  At that time Class Members may receive payments for their damages caused by their drywall.

Some Class Members will have received a notice in the mail about the Settlements, and do not have to do anything to stay in the Classes.  For those who did not receive a notice in the mail, they must register to receive future updates about the Settlements, including when a claims process is available.  Class Members can register at ChineseDrywallClass-VA.com, by completing the Online Registration Form, or by calling 1-877-418-8087.

Class Members have a choice of whether or not to stay in the Classes.  If Class Members choose to stay in the Classes, they will be legally bound by all orders and judgments of the Court, and they will not be able to sue, or continue to sue, the Defendants for the issues involved in this lawsuit.  Class Members that do not wish to be included in the Settlements can ask to be excluded from the Classes.  If they exclude themselves, they will keep any rights to sue the Participating Defendants for these claims, now or in the future, and will not be bound by any orders or judgments of the Court.  Class Members must exclude themselves in writing by April 25, 2013.  Those wishing to stay in a Settlement Class may object to that Settlement no later than April 25, 2013.

More information regarding this lawsuit and Class Members' rights, including how Class Members can exclude themselves, is available at.ChineseDrywallClass-VA.com or by calling 1-877-418-8087.

SOURCE Levin, Fishbein, Sedran & Berman, Herman, Herman & Katz, and the Law Offices of Richard Serpe, P.C.