The issue isn’t new. It has been about twenty years since the first homeowners recognized that significant water damage had been caused by the synthetic stucco—also called exterior insulation finish systems (EIFS)—used on their homes. Since others have already filed lawsuits before you, you may be wondering who those lawsuits were against and how they were resolved.
Here Is a Sampling of What Has Been Decided
Most of these manufacturers have settled claims in North Carolina and some, such as Dryvit, have had damages awarded to property owners in other jurisdictions. Some of the manufacturers who have been sued include:
- Dryvit Systems. Dryvit is located in Rhode Island. The company has faced numerous lawsuits and has paid out millions of dollars in settlements or verdicts.
- Sto Corp. Sto Corp is located in Atlanta, Georgia.
- WR Bonsai. WR Bonsai Company is located in Pompano Beach, Florida.
- Continental Stucco Products. Continental Stucco Products is located in Doraville, Georgia.
- Finestone. Finestone has distributors across the country.
Big manufacturers aren’t the only ones at risk of paying for the property damage caused by EIFS; development companies, contractors, and architects may also be responsible for property that is damaged by synthetic stucco. For example, in December 2003, a North Carolina appeals court affirmed a jury verdict in the case of Ben and Yvette Coates v. Niblock Development, Corp. The jury verdict awarded plaintiffs $55,000 against the development company for the damage EIFS caused to their structure.
From 1995 to 2000, approximately 250 EIFS cases settled for about $15 million. However, that was not the end of the story. EIFS cases have been filed in many states since that time and property owners continue to recover damages for their losses.
Should You File a Case?
Have you worked with any of the EIFS manufacturers or installers listed above? Is your home or business at risk of water damage from synthetic stucco? If so then we encourage you to contact us for more details about your claim and possible recovery. We have already helped multiple property owners win millions of dollars in EIFS claims and we would be pleased to offer you a free consultation.