Confidential
Settlement – $5,500,000Judge
Court
Riverside Superior
Attorneys
Plaintiff
Michael D. Dicks
(Dicks & Coglianese LLP)
Thomas E. Miller
(Miller Law Firm)
Defendant
Experts
Plaintiff
John C. Stevenson Jr.
(technical)
Peter Poutney
(technical)
Wendell Allbrect
(technical)
William J. Sevier
(technical)
James R. Libby
(technical)
Defendant
Seb J. Ficcadenti
(technical)
Robert W. Johnson CPA
(technical)
Paul Henry
(technical)
Eric Klock
(technical)
Mike Stevens
(technical)
Bing C. Yen
(technical)
Facts
In the 1980's 3 Defendant developers/builders constructed a 960-unit condominium complex. The units originally sold at $120-130,000 per unit. Plaintiff residents and members of the homeowners' association alleged construction defects.
Settlement Discussions
Plaintiffs contend their demand was $21,000,000 total ($9,000,000 resolved and $12,000,000 pending) and Defendants' offers are to remain confidential. Defendants contend that Plaintiffs' demand was $78,000,000.
Damages
Defective roofing, cracked slabs, deficient structural framing, window leaks, cracked stucco, deficient air conditioning, faulty plumbing, and faulty electrical -- repair costs were not disclosed.
Other Information
This is a partial settlement by two of the three Defendant developers/builders have settled the claims against them; the case against the third developer/builder (who built the first 512 units) is scheduled for trial in July of 1994.
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