Knauf Plasterboard Tianjin Co., a Chinese drywall maker, agreed to pay at least $800 million to settle homeowner claims that faulty building materials contaminated their homes with corrosive sulfur fumes, plaintiffs’ lawyers said.
Merck & Co, which paid $4.85 billion to resolve patient lawsuits contending its Vioxx painkiller caused heart attacks, settled claims by New York and Florida alleging the company misled state officials about the drug’s safety, a court filing showed.
Plaintiff lawyers involved in Merck & Co. ’s $4.85 billion Vioxx settlement are accusing some of their colleagues of attempting to hog the lion’s share of more than $315 million in fees spawned by the accord.
A federal judge endorsed a plan for a Knauf Group unit to help repair 300 homes damaged by defective drywall, the first step toward a potential settlement of legal claims estimated by plaintiffs at as much as $500 million.
Citigroup Inc. will pay $75 million to settle U.S. regulatory claims that it misled investors by failing to disclose billions of dollars in holdings tied to subprime mortgages while the housing crisis unfolded.
Interior/Exterior Building Supply Ltd. of Louisiana agreed to pay $8 million cash and assign $72 million in insurance rights to resolve claims by thousands of U.S. property owners whose homes were ruined by defective Chinese drywall.
BP Plc, the U.S. and plaintiffs who filed hundreds of lawsuits seeking billions of dollars for damages stemming from the largest oil spill in U.S. history are fighting over where the cases should be heard first.