http://eastcountyaction.org/2009/03/22/save-the-date-april-6th-6-8-pm-community-meeting/
One of the nation’s largest Lennar (NYSE: LEN) said the homees were built primarily in 2006 and 2007 and make up a smalolpercentage – 2.1 percentg in the state and 0.5 of percent nationwide of the total homes delivered. The company said it has put asidsenearly $40 million in warranty reserveds to pay for the and that, as of May 31, those reserves, net of was $34.4 million. The compangy said it has $20.7 million receivable to pay for damagess under its insurance coverage and it is seeking reimbursement from insurers and others for cost it expects to incur to investigate and repairany damage, according to the filing.
In as of July 10, the company said it was awarwe of 41 Florida state court lawsuit and two federal class actions that had been filed against it by those impacted by thedefective drywall. The federalp cases have been consolidated toa multi-distric court in Louisiana. Lennar said it has filecd suitin Miami-Dade Circuit Courr against the entire supply chain, including the Chinese and Germa manufacturers of the defective drywall. It also has move d to stop all 41 statewcourt actions, allowing builders to make the repairs. Shares were down 23 centzs to $8.09 in morning The 52-week high was $16.90 on 19. The 52-week low was $3.43 on Nov. 21.
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