A lawsuit captioned Andrew Snyder et al.  v. Tim Schaeffer Development Corp. et al. .   (“Schaeffer Development“), Docket No. CAM-L-864-14, was filed in the Superior Court of New Jersey, Camden County, New Jersey on behalf of all persons who are both the current owners and the original purchasers of residences located in the “Townhomes At Lonaconing” development located in Berlin, New Jersey.  The complaint alleges that Schaeffer Development constructed its homes in error by improperly installing defective stucco on the homes in violation of the relevant building codes in effect at the time of construction.  Schaeffer Development denies any wrongdoing and denies the claims and allegations asserted by Plaintiffs and maintains that Plaintiffs’ homes do not contain any construction errors. The parties nevertheless have agreed to settle the lawsuit.

 AM I COVERED BY THIS CLASS ACTION LAWSUIT AND THE PROPOSED SETTLEMENT?  If you are both the current owner and also the original purchaser of a home in the “Townhomes At Lonaconing” development located in Berlin, New Jersey, you may be a Class Member.   If you have any questions regarding whether you are a Class Member, you can contact Class counsel Stephen P. DeNittis at 856-797-9951 or via email at sdenittis@denittislaw.com.  You can also obtain more information about the settlement by visiting Class counsel’s website at www.denittislaw.com.

WHAT ARE THE TERMS OF THE SETTLEMENT?  Schaeffer Development has agreed to create a Common Fund of $60,000.00 that will be used, among other things, to pay approximately $1,200.00 to Class Members who are both  current owners and original purchasers of a property located in the “Townhomes at Lonaconing” in Berlin, New Jersey.  Under the proposed settlement, Class Members who submit a timely completed claim form with the required documentation showing they are both the current owner and the original purchaser of their home will receive a check in the amount of approximately $1,200.00 per townhome from the Common Fund, via first class mail within 100 days of Final Approval of the proposed Settlement, if the Settlement is approved by the Court (or within 10 days after the Court’s order becomes final if an appeal is filed).  Pursuant to the terms of the settlement, Class counsel also will apply to the Court for an award of reasonable attorneys’ fees and litigation costs not to exceed  $40,000.00 subject to court approval.  Attorneys’ fees and costs are separate and apart from the Common Fund and will be paid by Defendants separately.  An application shall be made for incentive award payments for the three named Plaintiffs in the amount of $2,000.00 per residence which will be paid from the Common Fund, subject to court approval.  These payments will not diminish the approximately $1,200.00 to be to be paid to Class Members who file a timely claim with supporting proofs.  Should the amount of claims exceed the amount of the Common Fund, Class members shall receive a pro rata distribution from the Common Fund. The proposed settlement is intended to settle all claims against Defendants that arise from a Class Member’s claims for alleged stucco defects associated with their homes and by participating in this Settlement each class member is releasing all such claims as further described in the Settlement Agreement.  This includes any and all claims or causes of action that were, or could have been, asserted by the named Plaintiffs or any member of the Class against Defendants based upon or related to the facts, conduct, omissions, transactions, occurrences or matters that were alleged or could have been alleged in the litigation regarding alleged stucco defects of the townhomes.

 HOW DO I GET MORE INFORMATION?  Additional claim forms and further information about the settlement can be obtained by visiting the following website address: www.denittislaw.com, by contacting Class counsel at 856-797-9951, or via email at sdenittis@denittislaw.com.

 

Preliminary Approval Order-signed

For more information about the lawsuit and settlement please go to: FINAL – Legal Notice

To obtain a Claim Form go to:  FINAL – Claim Form