Orlando, FL: (Apr-01-08) A class action lawsuit was brought against Ryland Homes over water damage claims following the 2004 hurricanes in Central Florida. The company agreed to resolve the class action claims by entering into a settlement agreement with the plaintiff class.
Under the terms of the settlement agreement, Ryland officials said the company will pay $3.25 million to resolve claims, of which, almost $2 million will go directly to homeowners in the lawsuit. Sources said that following approval from a judge and arbitrator, the company will send out notices to the homeowners entitled to compensation. [