Plaintiffs’ counsel for a class of individuals, and GAF Materials Corporation, announced on September 16, 2016 that they have entered into a Settlement Agreement that, if approved, will resolve a class action lawsuit alleging that CrossTimbers, DuraLife, and Railways outdoor composite decking materials manufactured or sold by Elk Corporation and Building Materials Corporation of America were defective. GAF Materials Corporation claims the decking materials were not defective. Elk ceased manufacturing decking materials in 2007. Building Materials Corporation of America ceased manufacturing decking materials in 2011 and sold its decking business in 2012. The terms of the settlement and claims process are set forth in the Settlement Agreement and described in the class notice. In resolving this litigation, GAF Materials Corporation did not admit any liability or plaintiffs’ allegations but rather entered into the Settlement Agreement to avoid the expense and burden of costly litigation and for the benefit of the class.
On February 27, 2017, the United States District Court for the District of New Jersey entered an order granting final approval to the settlement. The Settlement Agreement and final approval order are linked below. Additional information about the settlement can be obtained by visiting the settlement website at http://www.deckingsettlement.com/. C&T served as a member of the Plaintiffs’ Steering Committee in the litigation.