Investigation and pending class action lawsuit against various entities Kadant, Inc., Kadant Composites LLC, and Liberty Diversified Industries, Inc. whom are responsible for damages from GeoDeck composite decking products.
GeoDeck decking and railing products that were manufactured between April 2002 and October 2003 contained an error in the manufacturing process. As a result, these products quickly deteriorate and will experience cracking, splitting, warping and/or rotting. A recall of the GeoDeck products was issued in August of 2005 and a warranty fund was set up to pay claims. However, that fund was exhausted and stopped paying claims in September of 2007. Despite that these products had come with a 20 year warranty that they "will not rot, split or suffer structural damage from termites or fungal decay," valid warranty claims have not been paid.
Name (Stock Symbol)
Kadant, Inc. (KAI)
Kadant Inc. is an equipment supplier to the global pulp and paper industry.
Kadant Composites LLC
Kadant Composites LLC, also known as,LDI Composites Company, manufacturers the Geodeck line of composite decking materials.
Liberty Diversified Industries
Liberty Diversified Industries manufacturers corrugated fiberboard, office furnishings, plastics, metal machining and fabrication, fiber recycling and health care.
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