Homeowners involved in the Banner Supply Co. class action lawsuit now have the option to opt out of the lawsuit and pursue private cases.
Homeowners affected by the Chinese drywall class-action suit against Banner Supply Co. are now able to opt out of the suit and file separate lawsuits if they choose to do so.
Between 2004 and 2008 many U.S. contractors and builders, particularly in the south, found domestic supplies of drywall running short. With hurricanes, building demands skyrocketing and domestic drywall plants being shut down, builders looked to Chinese imported drywall as an alternative.
Aside from emitting a foul odor, the imported drywall has the tendency to corrode wiring and other metal materials and can also cause a variety of health problems including vomiting and eye irritation.
In June of this year, Banner Supply Co. agreed to a class-action lawsuit in which $55 million would be split between the roughly 2,000 victims affected. The settlement applies only to the state of Florida.
Months after the settlement was approved by Banner, Florida homeowners began to ask for individual lawsuits, claiming that the $55 million was not enough. When the full amount of the settlement is divided among those in need of compensation, the amount offered to each household comes out to about $33,000. With the damages of the high-sulfur, corrosive drywall coming out to about $100,000 per home, the settlement amount just isn’t cutting it.
“This has been an absolute tragedy for myself and my family,” Joseph Pensabene told the Herald-Tribune. Pensabene’s house has been gutted out and his two daughters have been experiencing health complications as a result of the drywall. “We believe we were 100 percent done wrong. We want our day in court and a chance to be heard.”
Lawyer David Durkee has been assisting those victims who want out of the mass settlement. He has been encouraging them to pursue private settlements and receive the compensation they deserve.
Broward County judge Charles Greene recently ruled that victims may file separate lawsuits against Banner. Greene has instructed plaintiffs to alert the court if they are choosing to opt out of the class-action settlement in favor of a private settlement.
Banner is currently in the process of suing German conglomerate Knauf Gips for $100 million. According to Banner, Knauf made false claims about the drywall and had been fully aware of the harmful properties it possessed when Banner bought over 1.4 million sheets of it. In 2007, Knauf and Banner struck a private settlement in which Knauf replaced the remainder of the suspect shipment with American-made drywall. Knauf has yet to compensate Banner for the drywall which was already used in American construction.