Proposed Lowe’s drywall settlement: plaintiffs screwed, lawyers richer
blogs.creativeloafing.com
August 17, 2010
Lowe’s, the Mooresville-based home improvement titan, has agreed to a settlement in a class-action lawsuit in Georgia over tainted drywall. But, if you you’re one of the people who bought the stuff, don’t expect a full refund. It’s more likely you’ll get a gift card, but only if you keep great records and opt into the class action lawsuit by Nov. 19. And, don’t expect anyone to notify you of the suit by mail, as is done with most class action law suits.
It’s also important to know Lowe’s isn’t the only Charlotte-area company snagged by the controversial building material. National Gypsum, located just over the Catawba River, is also implicated.
Critics claim Lowe’s settlement may make it difficult to pursue other tainted drywall claims in the U.S., even though, in China, people are dying because of similar products. They say the settlement is intended to insulate the companies from liability, and it’s definitely not intended to protect consumers.
The maximum payout under the settlement is $2,500 in cash and a $2,000 gift certificate to Lowe’s, but you’ll only get that if you’ve done a terrific job documenting your claim from the moment you purchased the drywall. Didn’t keep good records? You may get a $50 gift certificate. Maybe.
There are also indications the lawyers involved are pressuring their clients to drop their claims, in some cases even dropping lawsuits without their client’s permission.
This is important to note, especially in a time when the coal industry claims adding coal ash waste — which may or may not soon be considered hazardous waste — to products like concrete, asphalt and, you guessed it, dry wall is perfectly safe.
To Read More:http://blogs.creativeloafing.com/theclog/2010/08/16/proposed-lowe%E2%80%99s-drywall-settlement-plaintiffs-screwed-lawyers-richer/
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