RHODES HOMES SUBCLASS A SETTLEMENT UPDATE:
Class Counsel reached a tentative settlement with Rhodes Design & Development Corporation for a subclass of homes. This is a partial settlement and will not provide enough money by itself to re-plumb 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 each settlement, including the Ipex settlement (see the Ipex Settlement link on the Home page), the funds will be combined to help pay for the cost of re-plumbing the Rhodes Homes 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 Update: After holding the final fairness hearing on April 21, 2010, the Court approved the settlement with Rhodes Homes. However, the money from this settlement will not be available for use by the subclass members until all appeals to the settlement, if any, are resolved. Additionally, the settlement with Rhodes Homes is a partial settlement and does not include enough money to begin re-plumbing subclass homes without the Ipex settlement funds (see the IPEX Settlement Update for more details). The Ipex settlement funds will not be available for use by the class members until all appeals are resolved.