Chinese Drywall Maker to Settle Toxicity Claims for $248 Million

A state-linked Chinese company and its affiliates have agreed to pay $248 million to settle U.S. homeowners’ claims stemming from allegedly contaminated drywall, according to an Aug. 20 filing in federal court in Louisiana.

The settlement with Taishan Gypsum Company Ltd. and related companies should be approved, the homeowners told the U.S. District Court for the Eastern District of Louisiana.

Excluded from the deal in the hard-fought litigation are about 500 plaintiffs who have a separate settlement agreement, and builders, whose bid for class status was denied in July.

Judge Eldon E. Fallon is overseeing the consolidated cases that arose ...