BREAKING BUSINESS
Transcription
BREAKING BUSINESS
6/22/12 Pella reaches deal in class-action involving 6M windows - chicagotribune.com Search BREAKING BUSINESS Home Breaking News Business Technology Money Sports Work Life A&E Lifestyles Chicago Stocks Opinion Real Estate Cars Sign In or Sign Up Jobs Columns Hom e > Business > Chicago Breaking Business IN CASE YOU MISSED IT ... Pella reaches deal in class-action involving 6M windows Photos: Chicago Gospel Music Festival Ads by Google Champion Windows Factory-Direct Replacement Windows. Book A Free In-Home Estimate Now. www.ChampionWindow.com Comments 0 Share 14 0 PHOTOS & VIDEO Leon ard Sal tzm an poses ou tsi de n ear th e repl aced Pel l a wi n dows i n h i s Lake Forest h om e. Man y wi n dows an d doors were repl aced i n th e h om e by Pel l a as th e resu l t of a cl ass acti on l awsu i t. (Ch ri s Wal ker / Ju n e 22, 2012) Ads by Google By Ameet Sachdev Tribune staff reporter In search of the real Brandon Marshall 11:58 a.m . CDT, June 22, 2012 Six years after a Lake Forest doctor sued Pella Corp. over alleged defects in its windows, a proposed settlement has been reached. The agreement covers a nationwide class of consumers who bought ProLine casement, awning and transom windows made by Iowa-based Pella from 1991 to 2006. Pella shipped an estimated 6 million such windows, according to Richard Burke, one of the plaintiffs' attorneys. Ask Amy: What to do with kids during the summer? Consumers may be eligible to receive between $750 and $6,000. The settlement also provides benefits beyond the warranty to consumers whose windows may suffer wood rot in the future, according to court papers. Mugs in the news: Charged Photos in the News: Dog with spitting on a cop day The proposed settlement was filed in a Chicago federal court earlier this week and must be CHICAGO SHOPPING www.chicagotribune.com/business/breaking/chi-pella-windows-suit-20120622,0,5179787.story 1/3 6/22/12 Pella reaches deal in class-action involving 6M windows - chicagotribune.com approved by a judge. Pella said Friday in a statement that it is "pleased to have created a settlement framework that extends our existing customer support program with a claims process" for older windows. "In the overwhelming majority of cases, our Pella windows performed extremely well and as designed," Pat Meyer, Pella's chief executive officer, said. "We know that each home or building is unique and the settlement is designed to address the relatively small number that may have experienced a problem." Burke represents Dr. Leonard Saltzman, who built a home in Lake Forest in 1995 that contained several ProLine casement windows. Ten years later he began to notice some of the window frames were rotting, but the windows were no longer under warranty. Adoptable pets from Chicago shelters Fashion After Dark: Hot looks from cool clubs Updated 3:08 p.m. Where to dine alfresco this weekend Refresh your home with our room design guide ILLINOIS INTEREST RATES Saltzman filed a lawsuit in 2006, alleging that the windows had a design defect that permits water to seep behind the aluminum cladding and cause wood rot. Pella had denied the allegations and said wood could rot for many reasons. The company did not admit to any defects in its ProLine windows as part of the settlement, Burke said. U.S. District Court Judge James Zagel certified the suit as a class action, and a federal appellate court upheld the decision. MORTGAGE CDs RATE 3.67% 15 yr fixed mtg 2.97% 3.02% 30 yr fixed jumbo mtg 4.27% 4.30% 5/1 ARM 2.68% 2.67% 7/1 ARM 2.95% RATE MMA 3 yr CD 2.96% +/- LAST WEEK Loan Modification >> Home Equity 0.49% 0.49% Loans >> 1 yr CD CHICAGONOW 5 yr CD asachdev@tribune.com LAST WEEK 3.62% 6 month CD Pending review by the court, customer notifications could begin as early as the fall, Pella said. +/- 30 yr fixed mtg 0.47% 0.46% 0.70% 0.70% 0.94% 0.94% Is this wrong? 1.38% Merck uses 1.36%Madagascar characters to market a drug Copyright © 2012, Chicago Tribune Comments Share 0 14 Early review of "Abraham Lincoln: Vampire Hunter" is in. And it's awful 0 MORE FROM T RIBUNE FROM AROUND T HE WEB Sharp introduces 90-inch TV, calling it the largest on the planet Cubs C Hill outrighted after clearing waivers Panera to open first local pay-what-you-can cafe in Lakeview Leaders stuck on stupid (Business Without Borders) (ESPN Chicago) Gangs that came to rule in seats of power IKEA's New Take on TVs: They Should Look Good in Your House (Television Info) Gas could drop to $3 by fall Trump tower falters Cheney family 'delighted' as lesbian daughter marries partner (Bankrate.com) How to Live Debt-Free: Tips to Help Eliminate Debt (TransUnion) [what's this] RECOMMENDED VIDEOS Searching for the real Brandon Marshall Ask Amy: What to do with kids during the summer? De-Clutter: Lessons for Life Giant spiders prompt panic in India www.chicagotribune.com/business/breaking/chi-pella-windows-suit-20120622,0,5179787.story 2/3 6/22/12 Pella reaches deal in class-action involving 6M windows - chicagotribune.com Manage Subscription Adv ertising Serv ices Connect With Us Terms of Service Privacy Policy About Our Ads BBB A+ Accredited Business Chicago Tribune, 435 N. Michigan Ave., Chicago, IL 60611 A Tribune New spaper Website Mobile Site index www.chicagotribune.com/business/breaking/chi-pella-windows-suit-20120622,0,5179787.story 3/3