Chinese Drywall Litigation Ends With $248 Million Settlement

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Three Chinese drywall companies have agreed to a $248 million settlement with customers, ending 10 years of litigation over allegedly defective drywall. Manufacturers including Taishan Gypsum Company LTD, Shangdong Taihe Dongxin Co. LTD, and Taian Taishan Plasterboard Co. LTD have agreed to settle with homeowners who claimed that they were negatively affected by defective drywall made by the companies. Under the terms of the proposed settlement deal, homeowners may be eligible for compensation for damage to property suffered, including property costs, and alternative housing required. Ring of Fire’s Farron Cousins discusses this with Scott Hardy from Top Class Actions.

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