Chinese drywall settlement nets $8 million


POSTED: Tuesday, April 26, 2011 - 8:50pm

UPDATED: Wednesday, April 27, 2011 - 4:15pm

Those affected by Chinese drywall won a settlement today.

Interior/Exterior building supply now owes those affected more than eight million dollars in damages. The money is the most the company’s insurance with one of their insurance companies will allow.

Two of those affected by the Chinese drywall were Frank Ragsdale and his daughter Tara. Frank had to spend almost $89,000 to remove all of the corrosive drywall from their home. Tara has asthma and Frank says the drywall caused her to have a major asthma.

A judge still has to approve the settlement before any of the eight million is handed out. The plaintf’s lawyers aren’t done. They are looking to collect $72 million for what they say are the 1,200-1500 people affected.


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