Masonite Suit
by adminMasonite Suit
By John Pawlak
The Masonite Corporation was a leading manufacturer of hardboard siding, a product made from wood fiber, wax and resins, and designed to look like traditional, external lumber siding. Due to improper manufacture and/or installation, this construction material has gained a reputation for degrading from routine exposure to moisture-buckling, rotting, softening, blistering, and severe swelling causing structural damage to residences and other buildings it was used on. This has resulted in a class action Masonite suit.
It began in 1994 when a lawsuit was filed asserting that Masonite had failed to meet its warrantee. The outcome of this original Masonite suit was a class action proceeding, the end result of which was a settlement that established that anyone who owned property constructed or fitted with Masonite hardboard siding between January 1, 1980 and January 15, 1998 was due reimbursement for damages caused by it.
In this siding class action lawsuit, millions of dollars have been paid to claimants and property owners who could prove damages occurred as a result of Masonite s hardboard siding. In the wake of these legal proceedings, and citing a dramatic decline in the product s overall market share, the Masonite Corporation has ceased fabricating hardboard siding.
The average settlement for a claimant in a Masonite suit is $3000. In 2005, Claimsource One collected more than $15 Million in damages for property owners
John Pawlak is the President of ClaimSourceOne Inc - http://www.claimsourceone.com
ClaimSource One is a claim service firm that specializes in assisting property owners recover cash settlements for damaged building products such as Masonite, Omniwood, Weyerhaeuser, ABTco & Stimson installed on their real property.
Article Source: http://EzineArticles.com/?expert=John_Pawlak
http://EzineArticles.com/?Masonite-Suit&id=243383
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