A $13 million settlement has been hammered out between some companies that imported and sold Chinese drywall and homeowners who claim the defective drywall ruined their properties and caused them to experience health problems.
The proposed settlement will compensate 200 Virginia homeowners if it is approved next month by federal judge in New Orleans, according to The Virginian-Pilot. Federal regulators have found the defective drywall emits gases that corrode metal in homes.
Many of the homeowners involved in this legal battle have had to abandon their homes or sell them for less than what they paid. Others lost their homes through foreclosure or bankruptcy, according to The Virginian-Pilot.