A tentative settlement of a class action lawsuit against pluming manufacturer IPEX, the maker of Kitec plumbing fixtures, has been reached. The reported sum is $90 million, which would go to repair damages caused by ruptured Kitec fixtures.
As estimated 34,000 homes in southern Nevada could be affected, although IPEX states the number is closer to 28,000. The deal would earmark $11.6 million for Woodside Homes, which filed Chapter 11 bankruptcy on September 3: approximately 4,000 Woodside homes have Kitec plumbing.
The Kitec brass fittings were recalled in 2005 after it was determined that the fittings corrode, with zinc from the brass building up in the pipes. This build up then restricts water flow eventually resulting in burst pipes.
If the settlement is approved, it would resolve the 2-year old class action, and see restoration paid to thousands of home owners.
