Settlement Update for Richmond American Subclass A:
Class Counsel reached a tentative settlement with Richmond American Homes of Nevada, Inc. for a subclass of homes. This settlement provides enough money by itself to re-plumb the subclass homes. The settlement must still be approved by the Court and by the Class, which will take several months. The settlement may be appealed by other defendants in the case, which may substantially delay Class Counsel’s ability to use these funds for repairs. If the Court approves the settlement, and after all appeals are resolved for the settlement, the funds will be used to pay for the cost of re-plumbing the Richmond Subclass A members’ homes. For more information regarding the settlement and how it may affect your rights, please read the Notice of Preliminary Approval of Settlement and Fairness Hearing (“Notice”) document posted in the Updates section of this website. If you have questions that cannot be answered by the Notice, you may contact our office at the telephone number provided on this website.
FAIRNESS HEARING & REPLUMB UPDATE: After holding the final fairness hearing on June 6, 2008, the Court approved the Subclass A settlement with Richmond American. Replumbs of Subclass A homes will begin later in 2008 and will be coordinated by a third-party claims administrator appointed by the Court.