Disenfranchised Homeowners, Colson Hicks Eidson Stand Strong and Command Billion-Dollar Chinese Drywall Settlement
An estimated $1 billion settlement was reached last Thursday between approximately 4,500 property owners in the Gulf Coast area and a Chinese drywall manufacturer. The homeowners alleged the defective drywall, manufactured by Knauf Plasterboard Tianjin Co., caused a foul odor, corroded wiring and other metal appliances as well as caused health problems to individuals.
A partner at Colson Hicks Eidson in Coral Gables, was a member of the plaintiff’s steering committee. He noted that depositions taken throughout the world proved company executives at both Knauf and its German-owned parent corporation had knowledge and therefore culpability in manufacturing and distributing the defective product. “I think eventually they saw the writing on the wall and if they didn’t act, it would only get worse,” he said.
The attorney for the defendants, Kerry Miller, agreed with this sentiment, noting the company “decided to step up and settle these claims and do the right thing.” The settlement creates an uncapped fund to pay for repairs and injuries suffered by homeowners in Florida, Louisiana, Mississippi and Alabama.