OTHER NEWS - April 23, 1996
Home Siding Agreement Approved: A Portland, Ore., federal judge accepted the settlement of a class-action lawsuit over allegedly defective Louisiana-Pacific Corp. house siding installed on an estimated 800,000 U.S. homes. After initially chastising lawyers for a proposal he said inadequately compensated homeowners, U.S. District Judge Robert Jones approved a modified deal that, he said, “realistically, nobody’s happy with.†Louisiana-Pacific agreed to pay $275 million and has an option to add $50 million to the fund. The siding, which resembles cedar but is made from wood chips and resin covered with resin-soaked paper, can soak up moisture, resulting in swelling and cracking. Louisiana-Pacific maintains that up to 90% of the problems with its Inner-Seal siding can be traced to improper installation and maintenance.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
