Lowe's Settles Defective Drywall Suit with $6.5M in Gift Cards

Washington, DC: Lowe's, the home improvement retailer, has agreed to a tentative settlement in the class action suit over alleged defective drywall.

Under the terms of the settlement Lowe's has agreed to give out $6.5 million in gift cards and pay up to $2.2 million in attorney fees, according to the Wall Street Journal. Plaintiffs claim similar difficulties with the drywall they purchased from Lowe's as has been cited in other cases, namely a sulfurous odor and the tarnishing of metal in the home. Under the settlement, the company admits to no wrongdoing.

The WSJ is reporting that Lowe's maintains that the drywall it sold is not defective Chinese Drywall. In an email statement, the company said, "Lowe's has been assured by vendors who provided stock drywall for sales in our stores that drywall they provided was not imported from China. But the settlement includes claims of all types of allegedly defective drywall people claim to have purchased from Lowe's."

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Published on Aug-11-10