Homebuilder Lennar Corp. has identified defective Chinese-made drywall in about 400 Florida homes - most built in 2006 - 2007. According to their filing with the Securities and Exchange Commission, this represents about 2.1 percent of homes it built in Florida at that time.
Lennar has set aside $39.8 million in warranty reserves for homes that have the defective drywall. State and federal tests have found high levels of sulfur and organic compounds in the drywall.
Lennar says it has been named in 41 separate lawsuits as of this date (14JUL09). Lennar has filed suit against the entire supply chain, including manufacturers of the defective drywall.
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