Negotiated “Very Creative Solution” for the Chinese-Manufactured Drywall Products Liability Litigation
Kaye Scholer served as National Counsel to client Knauf Plasterboard Tianjin (KPT) In re: Chinese-Manufactured Drywall Products Liability Litigation. We developed and negotiated a landmark global class action settlement involving thousands of homes that were installed with KPT drywall, requiring remediation of the affected properties. The innovated settlement benefited KPT by allowing it to repair the affected homes rather than having to pay monetary damages, assuring the most cost-effective solution.
Called a “very creative solution to a very complex problem that is...fair, comprehensive and just” by mass torts expert Prof. Stephen Salzburg of George Washington University Law School, the settlement generated more than 500 media stories around the US. When “officially” approved by U.S. District Judge Eldon E. Fallon, the settlement will effectively end the ongoing litigation and class-action lawsuits. Lead partners: Steven Glickstein, Jay Mayesh (Product Liability) and Gregory Wallance (White-Collar Litigation & Investigations).