Case Conclusion Date: 01.10.2012
Practice Area: Class Action
Outcome: Settlement more than $800 Million
Description: CHINESE DRYWALL $800 Million Settlement After 18 months of more than 50 worldwide negotiations in New Orleans, New York, Philadelphia and Miami, as well as Frankfurt, Germany, the Honorable Judge Eldon E. Fallon of the U.S. Eastern District Court, New Orleans, Louisiana, announced that the Plaintiffs' Steering Committee and Knauf Plasterboard Tianjin (KPT) Defendants proposed a class action settlement that would resolve potentially thousands of Chinese Drywall claims. The proposed settlement is subject to court approval and the settlement value is estimated to be between $800 million to $1 billion, with approximately $160 million being paid in attorney's fees. The Law Offices of Wolf & Pravato, P.A. represent clients with approximately 395 homes that were affected by Chinese Drywall.