Settlements Affect Owners of Property With Timberline® Roofing Shingles Made Between 1998 and 2009

News provided by

Building Materials Corporation of America; Speights & Runyan; Pope and Hudgens, P.A.; Larson King, LLP; Cuneo Gilbert & LaDuca, LLP

Jan 02, 2015, 09:10 ET

GREENVILLE, S.C., Jan. 2, 2015 /PRNewswire-USNewswire/ -- Building Materials Corporation of America, also known as GAF ("BMCA"), and the law firms of Speights & Runyan, Pope and Hudgens, P.A., Larson King, LLP, and Cuneo Gilbert & LaDuca, LLP announce that Settlements have been reached to resolve lawsuits involving Timberline^® roofing shingles ("Shingles").

The lawsuits claim a defect that might cause the roofing Shingles to prematurely crack, split or tear. BMCA denies claims that the Shingles were defective and maintains that its warranty appropriately covers any problems.

The Settlements include two Classes covering Shingles made: (1) between 1999 and 2007 at a plant in Mobile, Alabama and (2) between 1998 and 2009 at other manufacturing plants.

Property owners may be included if they own property in the United States with Timberline^® Shingles made during the relevant time periods.

Under the Settlements, the benefits that a property owner may receive are based on:
(1) the location of the property,
(2) where the Shingles were made,
(3) the date the Shingles were installed and the date on which a claim is made,
(4) the type and extent of damage to the Shingles, and
(5) the size of the roof.

Property owners may be eligible to receive: (1) replacement shingles (comparable to the Shingles installed) and/or (2) a cash payment. The Settlements will not reduce the benefits to which a property owner is entitled under any existing BMCA warranty.

Important Information

Property owners must file a claim to be eligible for benefits. A claim can be filed over the next seven years after the effective date of the Settlements.
Property owners who do nothing will not receive benefits and give up the right to sue BMCA.
Property owners who want to keep the right to sue BMCA must exclude themselves from the Settlements by March 16, 2015.
Property owners who stay in the Settlements can object to them by March 16, 2015.
The Court will hold a hearing on the Settlements on April 22, 2015, to consider whether to approve the Settlements and a request by the attorneys representing the Classes for fees (up to $6,890,000 in total) and costs and expenses (up to $1,115,000 in total). The payment of costs and expenses, as well as incentive awards for the class representatives, will not reduce the benefits under the Settlements. The attorneys representing the Class covering Shingles made in Mobile are also asking for a portion of the additional benefits going to Class Members with property outside South Carolina. These fees would in these instances reduce a percentage of the enhanced benefits to some Class Members.