If your EIFS Stucco was manufactured by Dryvit Systems, Inc., you may be entitled to a substantial cash benefit from the proposed settlement of a class action lawsuit known as Treon vs. Dryvit Systems, Inc. For example, you may qualify to receive up to $8.00 per square foot of Dryvit EIFS you have on the exterior of your home at no cost to you. That amounts to $22,400.00 for a typical sized home that is clad with 2,800 square feet of Dryvit EIFS over wood framing. If you have already replaced the EIFS with another exterior siding, you may be entitled to half that amount or $4.00 per square foot of EIFS cladding.
You’ll find all the information and forms you need right here. Be sure to read the Who Qualifies? page to see if you are eligible to participate.
The class action lawsuit of Timothy Treon and his wife Jane Treon, et al. vs. Dryvit Systems, Inc. (Civil Action Number 2002-CP-07-1377) was filed in 2002. A class action is a type of lawsuit where one or more plaintiffs, known as Class Representatives, pursue a case against a defendant for both themselves and a defined group of people or businesses known as a Class. The claims brought by the Class Representatives must arise from facts or law common to the Class. The Treon vs. Dryvit Systems, Inc. action advanced several claims regarding the performance and marketing of Dryvit’s barrier EIFS stucco products. Those claims are fully set forth in the Third Amended Complaint. The case is a complicated products liability action that has proceeded for many years. In addition to the claims set forth in the Third Amended Complaint, the Class Representatives have also alleged that Dryvit has engaged in certain sanctionable misconduct during the course of this litigation that is set forth fully in the Plaintiffs’ Motion for Sanctions. Dryvit denied the claims set forth in the Complaint, see Dryvit’s Answer, and the allegations of litigation misconduct, see Dryvit’s Reply to Sanctions Motion.
After months of difficult and often contentious negotiations, the Class Representatives and Dryvit reached a Settlement Agreement. The Settlement Agreement has been reviewed by the Honorable J. Mark Hayes, II, a South Carolina Circuit Court Judge assigned by the South Carolina Supreme Court to preside over this case. Judge Hayes reviewed the Settlement Agreement, its attached exhibits, the arguments of lawyers representing all parties and voluminous filings of other material to determine whether the Settlement Agreement is fair and reasonable to the Class. By Order dated November 13, 2009, Judge Hayes granted Preliminary Approval of Settlement subject to his hearing from Class Members at a Fairness Hearing scheduled for June 7, 2010.
Judge Hayes approved a Long Form Notice to be distributed to the Class pursuant to a Notice Plan. The Long Form Notice is merely a summary of the Settlement Agreement and it is strongly recommended the all members of the Class read both documents as the Settlement Agreement affects their legal rights. The lawyers representing the Class in this litigation, called Class Counsel, are available to answer your questions about the litigation and settlement.
Class Counsel may be reached by calling 1.877.977.8397 toll free
or by writing to:
Dryvit EIFS Settlement
c/o Finkel Law Firm LLC
P.O. Box 1799
Columbia, SC 29202
or by emailing Class Council by clicking here.
Class members with questions about their individual legal rights must consult with their own attorney as Class Counsel is unable to give individual legal advice.