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Chinese Drywall Settlement Reached

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Banner Supply, who sold 1.4 million sheets of Chinese drywall across Florida, has reached a $54.5 million class action settlement for the nearly 3,000 Florida homes that were tainted by the toxic drywall, after a class action lawsuit claimed that Banner misled consumers about the product.

The settlement is expected to affect many South Florida residents, “Unfortunately, Manatee County and all the way down to where we are, in Lee County, are the epicenter of the Chinese drywall epidemic,” said Jordan Chaikan, a partner with the law firm Parker WaichmanAlonso LLP.

The class action lawsuit presented by the Parker firm is expected to involve more than 10,000 people nationwide. Chaikin said that anybody who “suspects or has confirmed through their builder that they have Chinese drywall and have not retained an attorney to represent them, it’s imperative that they do that immediately.”

Distribution of the settlement funds is under negotiation. Recipients will be notified by mail and through media outlets within 35 days after the settlement is approved.

Banner plans to seek its own lawsuit against those manufacturers who sold the toxic drywall.

breakinglawsuitnews.com disclaimer: This article: Chinese Drywall Settlement Reached was posted on Wednesday, June 15th, 2011 at 7:43 pm at breakinglawsuitnews.com and is filed under Toxic Substances Lawsuits.

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