Federal Judge Preliminarily Approves Settlement Deal In Chinese Drywall Action

NEW ORLEANS – The federal judge in Louisiana overseeing a massive defective drywall product litigation preliminarily approved a $55 million settlement on July 14 among Florida-based drywall suppliers, their insurers and a proposed class of homeowners whose properties were damaged by tainted Chinese drywall (In re: Chinese-Manufactured Drywall Products Liability Litigation, No. 2:09md02047, E.D. La.; See 6/27/2011, Page 7).
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