CertainTeed Corp. has reached a preliminary agreement to settle a class-action lawsuit filed against it by homeowners who alleged a type of organic asphalt shingle manufactured by the company failed prematurely and didn't perform as well as they should, the litigants said Monday Jan. 4.
In the settlement, CertainTeed continues to deny the allegations and maintains that the "vast majority" of the singles are defect free and will last beyond the warranty period, but said it is settling to avoid the expense and other negative aspects of protracted litigation.
As part of the settlement, CertainTeed has agreed to provide extra compensation beyond the company's warranty terms for home owners who are part of the class and who file claims. The settlement is not for a lump some but, rather, individuals who are part of the class and who file a claim are paid based on a formula.
Neither CertainTeed or the plaintiffs have presented any valuation or estimate for how much the settlement will cost CertainTeed.
The settlement agreement covers only organic shingles, which the company made from July 1, 1987 through 2005 and discontinued manufacturing and selling several years ago. The shingles in the agreement were sold with the brand names Hallmark Shangle, Independence Shangle, Horizon Shangle, Custom Sealdon, Custom Sealdon 30, Sealdon 20, Sealdon 25, Hearthstead, Solid Slab, Master Slab, Custom Saf-T-Lok/Saf-T-Lok and the Custom Lok 25.
The settlement does not include CertainTeed's fiberglass shingles Centennial Slate or Landmark, referenced in the recent press release issued by Halunen & Associates. Nor does the settlement include the fiberglass formulations of Horizon, Independence, Hallmark, and Hearthstead shingles.
More information about the settlement and class members' rights will follow in the first quarter of 2010.