Tuesday a Chinese drywall class-action lawsuit was settled for $54.5 million, which will cover the remediation of 2,000 to 3,000 homes in Florida.

According to the Miami Herald, Miami based supplier Banner Supply sold 1.4 million sheets of contaminated Chinese drywall to builders in Florida and has agreed to pay these homeowners in the settlement.

“This is a substantial development in Chinese drywall litigation,” said Ervin Gonzalez, a Miami attorney representing the plaintiffs in the case, in a statement. “It enables Florida homeowners to get some relief from their ongoing Chinese drywall issues.”

Banner Supply claims that the German-based manufacturer lied about the quality of the product and wishes to seek damages against the manufacturer.

Banner Supply has also paid $2 million to 79 homeowners in another class-action in October over Chinese drywall.

Read the FULL Miami Herald Article: Settlement reached in Chinese drywall lawsuit



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