Weyerhaeuser Gets Settlement Approval

A judge in San Francisco gave final approval to a settlement that requires Weyerhaeuser Co. to pay hundreds of thousands of homeowners for problems with the company’s hardboard siding, plaintiffs’ attorneys said. Weyerhaeuser will pay all valid and timely claims with no limit on the total amount of damages, lawyers said. The agreement, approved by San Francisco Superior Court Judge Alfred Chiantelli, covers property owners nationwide who have installed siding that became swollen, warped or buckled. The settlement gives consumers who installed the siding between Jan. 1, 1981, to Dec. 31, 1999, nine years to make a claim, the lawyers said. A representative for the Federal Way, Wash.-based company couldn’t immediately be reached for comment. Weyerhaeuser’s shares rose $2.88 to close at $51.88 on the NYSE.