EIFS Class Action relating to Parex brand Exterior Finish and Insulation Systems sold by
Charleston Gypsum (principally in
the Charleston, South Carolina MSA/Tri-County Area)
Justin Lucey and Mary Leigh Arnold have been prosecuting a class action against a distributor known
as Charleston
Gypsum, previously located in North Charleston, SC. The suit concerns the Parex
brand EIFS (Exterior Finish and
Insulation System) sold by Charleston Gypsum in the 1991-mid
1995 time frame.
EIFS, also commonly referred to as synthetic stucco, is an exterior cladding system consisting of
layers of
EPS board (analogous to Styrofoam), fiberglass mesh, and plasticized stucco. Plaintiffs
allege that this system is
inherently defective in that it permits water intrusion behind it at
terminations/penetrations, e.g., windows, and allows damage to occur unnoticed
within the
structure’s walls.
We have now reached a tenative settlement with the defendants for the defendants to pay $1.5 million to the class for complete settlement of the class claims. This settlement is subject to the court's approval. We anticipate a hearing on preliminary approval in February, and a fairness hearing to consider final approval circa May, 2008. We will shortly add additional information to the below links for your review.
If you have EIFS on your structure that you believe to be Parex EIFS that was applied during
the 1991-1995
time frame, please notify us so that we can provide you with future updates on
this class action.
If you have previously replaced your Parex EIFS, you may still be entitled to compensation.
If you have EIFS on your structure but do not know if it is Parex, we may be able to help
you make that determination.
The below links will provide you with further information on this case.
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