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Homeowners Get Initial OK for $248 Million Drywall Settlement

Sept. 3, 2019, 2:54 PM

U.S. homeowners and a Chinese company won initial approval from the Eastern District of Louisiana for their $248 million settlement over allegedly contaminated drywall.

The agreement between homeowners and Taishan Gypsum Company Ltd. and related companies with links to the Chinese government is fair, reasonable, and adequate, Judge Eldon E. Fallon of the U.S. District Court for the Eastern District of Louisiana said Aug. 30.

Fallon, who oversees the consolidated multidistrict litigation, also preliminarily certified a settlement class, scheduled a fairness hearing, and told the parties to proceed with notice to the class.

About 500 plaintiffs have a separate settlement ...