Homebuilder Lennar Corp. says it has identified faulty Chinese drywall in 400 homes in Florida, but none outside the state. The company says it has set aside about $40 million in insurance reserves to repair homes that have defective drywall.
The drywall is alleged to contain ingredients that corrode metal, emit an odor, and make people sick.
Lennar says it has been named in 41 Florida state court lawsuits and two federal class action suits. It says it has counter sued its entire supply chain, including the manufacturers of the product.
The U.S. Department of Justice has filed lawsuits on behalf of hundreds of homeowners from Louisiana, Florida, Ohio, and other states, and the court has assigned the cases to a U.S. district judge in New Orleans.
Source: The Associated Press, Brian Skoloff (07/13/2009)
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