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Cal-Shake suit moves ahead

From Times wire reports

The Superior Court of Contra Costa County has approved a statewide notification program to inform homeowners of a class-action suit involving Cal-Shake roofing.

The suit alleges that the shakes were defective and that they caused damage to the homes of class members, who include all people who own or owned a home in California with a Cal-Shake roof manufactured between Jan. 25, 1980, and Feb. 1, 1995.

The company maintains that the shakes were not defective, have not caused any damage to the homes and continue to function properly as part of a roof system.

Information concerning the case, including product description and important dates, can be found at www.calshakeclassaction.com or by calling (866) 844-0600. A trial date has been set for April 11, 2005.

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* The average rate on U.S. 30-year mortgages dipped to 5.72% in the week ended Wednesday, from 5.74% a week earlier, Freddie Mac said. Fifteen-year mortgages held unchanged at 5.15%. One-year adjustable rates inched upward to an average of 4.27% from 4.17%.

From Times wire reports

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