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Case Details for "Trex Company, Inc. "
Trex Company, Inc. Settles class action
Trex Company, Inc. (NYSE: TWP), the nation's leading manufacturer and distributor of wood alternative decking, railing, fencing and trim, announced today that it has entered into a Settlement Agreement that will resolve a class action suit filed in California by a group of plaintiffs' class action law firms alleging certain product defects. The settlement was preliminarily approved by the U.S. District Court for the Northern District of California on July 30, 2009. The Court has set a hearing for final approval on October 30, 2009.
In this suit, two customers of Trex decking product alleged that their decks suffered from surface flaking and that Trex failed to provide adequate remedies. In 2007, Trex fully and publicly disclosed that a manufacturing problem affected a small percentage of product manufactured in its Fernley, Nevada plant beginning in 2003. This issue was entirely isolated to parts of the West Coast, only affected a small percentage of Trex decking materials produced in the Nevada plant, and has since been remediated.
Under the settlement, Trex will continue to fully honor its warranty by replacing product, and also will provide partial reimbursement of labor expenses to affected consumers, the amount of which will be dependent on the size of the deck. The claim resolution process is described in the Settlement Agreement and class notice.
Posted on:2009-07-31
Company: Trex Company, Inc.
Class:
Scope: Nationwide
Type of Case: Consumer
Settlement Administrator:
Contact Us Regarding This Settlement:
