Important Case Updates

RICHMOND AMERICAN SUBCLASS B SETTLEMENT UPDATE:

Class Counsel recently reached a tentative settlement with Richmond American Homes of Nevada, Inc. for a second subclass of homes. This is a partial settlement and will not provide enough money by itself to re-plumb homes. The settlement must still be approved by the Court and by the Class, which will take several months. The settlement may be appealed by other defendants in the case, which may substantially delay Class Counsel’s ability to use these funds for repairs. If the Court approves the settlement, and after all appeals are resolved for each settlement, including the Ipex settlement (see below), the funds will be combined to help pay for the cost of re-plumbing the Richmond Subclass B members’ homes. For more information regarding the settlement and how it may affect your rights, please read the Notice of Preliminary Approval of Settlement and Fairness Hearing (“Notice”) document for the particular subclass in which you are interested. For your convenience, the Notice documents are located in the Updates section of this website. If you have questions that cannot be answered by the Notice, you may contact our office at the telephone number provided below.

• FAIRNESS HEARING UPDATE: After holding the final fairness hearing on June 22, 2009, the Court approved the Subclass B settlement with Richmond American. However, this money will not be available for use by the subclass members until all appeals to the Richmond American Subclass B settlement, if any, are resolved. Additionally, the settlement with Richmond American is a partial settlement and does not include enough money to begin re-plumbing homes without the Ipex settlement funds (see below). The Ipex settlement funds will not be available for use by the class members until all appeals are resolved.