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Slam Dunk: Michael Jordan Goes for the Gold in Mold

Adding to proof that homes of the rich and famous are not immune to moisture and mold problems, basketball great Michael Jordan has filed a $2.6 million suit against Sto Corp alleging their products resulted in problems in the Highland Park, IL, home. The Jordan mansion bears an EIFS (exterior integrated finish system) exterior finish of synthetic stucco, which the suit alleges failed and allowed moisture incursion leading to mold.

According to a news item presented on the WBBM Chicago website, Jordan noticed problems of water leaking behind the stucco soon after they occupied the renovated house in 1999. Sto Corp had claimed the product would eliminate the threat of water penetration in the home, and that the observed leaks related only to minor maintenance.

Jordan’s attorney had the home tested for mold and found the water penetration to be widespread, causing structural and interior damage including saturation with water and rot. According to the report, an IAQ specialist took air samples that demonstrated that the problem affected indoor air quality, as well.

The suit also names Berke Homes Inc. and several companies subcontracted by Berke to accommodate the installation of the EIFS. Any punitive damages, legal fees, and settlements from defendants other than Sto Corp are not included in the $2.6 million figure.

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The smart money says he opted out of the class action. That enables him to sue them separately, at any time within the warranty period, in which case he has a better chance of recovering more than he would in a class-action.

The rich aren't immune, they just get better legal advice. The average schmoe will jump on the class action every time. Most of the class action claimants in the L-P siding debacle were unhappy with their settlement and the lawyers made tons. Now, those smart enough to have opted out of the class action are suing individually because the stuff was guaranteed for 25 years.

Life goes on. I wonder who inspected the home for him?

OT - OF!!!


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