Notice of BP Organic Shingles Settlement-U.S.

Wed Jul 25, 2012 5:00am EDT

* Reuters is not responsible for the content in this press release.

  LONDON, ONTARIO, Jul 25 (MARKET WIRE) --
What is the litigation about? In the litigation (Marvin Sherebrin et al.
v. Building Products of Canada Corp., Ontario Superior Court of Justice,
Court File No. 4367/11CP; Diane Fitzsimmons v. La Cie Materiaux de
Construction BP Canada, Quebec Superior Court, Court File No.
500-06-00580-114; and Robert S. Melillo et al. v. Building Products of
Canada Corp., Vermont Superior Court, Chittenden Unit, Court File No.
s618-11 cnc), it is alleged that BP Organic Shingles are subject to
premature failure. Building Products of Canada Corp./La Cie Materiaux de
Construction BP Canada (the "Defendant") denies these allegations and
asserts that the BP Organic Shingles are free of any defect and will last
the entire warranty period. However, in order to achieve certainty in
terms of its ongoing obligations, the Defendant agreed to a settlement
that will resolve the litigation. The settlement represents a voluntary
resolution of claims. The Defendant does not admit any wrongdoing or
liability.

    The Ontario, Quebec and Vermont Courts will hold hearings to decide if
the proposed settlement is fair, reasonable and adequate. In Ontario, the
hearing will be on October 12, 2012, at 10:00am in the City of London. In
Quebec, the hearing will be on September 21, 2012 at 9:30am in the City
of Montreal. In Vermont, the hearing will be on December 12, 2012 at
10:00am in the City of Brattleboro. The full addresses of the Courts are
available online at www.bpshinglesettlement.com. 

    More information about the litigation and the settlement (including
copies of the settlement agreement and long-form Settlement Notice) is
available online at www.bpshinglesettlement.com. 

    Which organic shingles are the subject of the settlement? The organic
shingles that are the subject of the litigation are shingles made with a
felt reinforcement base material that is saturated with asphalt, also
known as "organic" roofing shingles, manufactured during the period from
1985 to 2010 under the brand names: Eclipse, Eclipse H/R, Eclipse LS,
Super Eclipse, Weather-Tite, Mirage, Rampart, Tradition, Tite-Lok, Esgard
Pro-Standard, Pro-Standard, Esgard 20, Esgard 25, Citadel, Tite-On,
Roofmaster, Roofmaster Classic, Roofmaster Plus, Elegance, Elegance II,
Europa, and Super Lok ("BP Organic Shingles").

    Who is affected by the settlement?  You might be affected by this
settlement if you own or owned a building in Canada or the United States
whose roofs contain or contained BP Organic Shingles. 

    You will only qualify for compensation under the settlement if: (1) you
are a class member; (2) you submit a timely and complete Claim Form,
along with the other required information; (3) you have experienced
qualifying damage to your BP Organic Shingles, as set out in the
settlement; and (4) the damage to the BP Organic Shingles was not caused
by improper installation, improper maintenance, weather-related events,
or some other factor unrelated to the manufacturing process, as set out
in the settlement. 

    What are the settlement terms? The settlement codifies the BP Organic
Shingles warranty and provides for additional enhancements to that
warranty, which are particularized on the settlement website. The amount
of compensation payable to qualifying claimants will depend on the
following factors: (1) the terms of the applicable warranty; (2) the
number of damaged BP Organic Shingles on the relevant roof slope; (3) the
length of time the damaged BP Organic Shingles have been installed on the
roof; and (4) whether the claimant selects the cash settlement option or
the repairs settlement option. 

    If I am affected by the settlement, what are my options? 

    Exclude yourself. If you exclude yourself or "opt-out," you will not be
eligible for compensation under the settlement, but you will be free to
sue the Defendant on your own about the claims discussed in this Notice.
If you do not opt out, you will be bound by the settlement and will be
able to claim for benefits under the settlement, but you will not be able
to sue the Defendant on your own in respect of the claims discussed in
this Notice. For instructions on excluding yourself, see the long-form
Settlement Notice, available online at www.bpshinglesettlement.com. The
deadline for opting out is October 19, 2012.

    Make Submissions. If you wish to make submissions to the appropriate
Court regarding the settlement, you can file written submissions or ask
to make oral submissions. For instructions on making written or oral
submissions, see the long-form Settlement Notice, available online at
www.bpshinglesettlement.com. The deadline for making written submissions
or applying to make oral submissions is October 19, 2012.

    File a Claim Form. To be eligible for compensation under the settlement,
you must submit a timely and complete Claim Form. Claim Forms can be
obtained online at www.bpshinglesettlement.com or by calling toll-free
1-800-515-3626. See the long-form Settlement Notice for details regarding
the claims filing deadline. 

    Class Counsel and Class Counsel Fees. The Defendant has agreed to pay all
Canadian and US class counsel fees plus applicable taxes and reasonable
expenses and costs in an amount not to exceed Cdn $2,400,000.00 for all
past and future work, including settlement approval and administration.
Class counsel fees are subject to the approval of the Vermont Court,
Ontario Superior Court, and Quebec Superior Court. 

    How do I obtain more information? More information about your rights
under the proposed settlement, including copies of the settlement
agreement and the long-form Settlement Notice, is available online at
www.bpshinglesettlement.com or by calling 1-800-515-3626. PLEASE DO NOT
CALL THE COURTS.

Contacts:
Harrison Pensa LLP
Jonathan Foreman
Counsel for Canadian Plaintiffs (excluding Quebec)
Toll free: 1-800-263-0489 ext. 369
jforeman@harrisonpensa.com

Lauzon Belanger Lesperance Inc.
Eric Lafreniere
Counsel for Quebec Plaintiffs
(514) 844-4646
elafreniere@lblavocats.ca

Cuneo Gilbert & LaDuca, LLP
Charles J. LaDuca
Co-lead counsel for U.S. Plaintiffs
(202) 789-3960
charles@cuneolaw.com

Audet & Partners, LLP
Michael McShane
Co-lead counsel for U.S. Plaintiffs
Toll free: 1-800-965-1461
mmcshane@audetlaw.com

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