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VA Homeowners & Insurers Reach $13M Drywall Settlement

Source: AP

Posted on 21 Jun 2012 by Neilson

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HomeownersVirginia homeowners and several companies have agreed to a $13 million settlement of lawsuits filed over Chinese drywall.

Media outlets report that attorneys for both sides announced the settlement Wednesday during a hearing in Norfolk Circuit Court.

Thousands of homeowners in the nation have reported problems with the drywall. It's been linked to corrosion of wiring, air conditioning units, computers, doorknobs and jewelry, along with possible health effects.

The settlement announced Wednesday involves about 200 homeowners, many in Hampton Roads, and companies that imported and sold the drywall.