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The $6.5 million Lowe’s class action settlement will provide payments of Lowe’s gift cards and/or cash valued from $50 to $100,000 to class members. To be considered a member of the Lowe’s settlement class, you must meet one of two requirements:

(1) You purchased, installed or had installed defective drywall from Lowe’s anytime before July 27, 2010, or (2) You either owned or were a resident of real property (i.e.; any building such as a house, apartment condo, etc.) in which defective drywall that was purchased from Lowe’s anytime before July 27, 2010 was installed.

According to the Lowe' Drywall Settlement Notice, you have four options to file a claim and receive settlement benefits:

(1) No Purchase/No Proof of Purchase Claims: If you cannot provide documentation proving that you purchased allegedly defective drywall from Lowe’s or were an owner or resident of a building in which allegedly defective drywall from Lowe’s was installed, you may be eligible for a $50 Lowe’s gift card.

(2) Proof of Purchases Claims: If you can provide documentation that you purchased allegedly defective drywall from Lowe’s before July 27, 2010, you may be eligible to receive a $250 Lowe’s gift card.

(3) Proof of Purchase and Damages Claims: If you can provide independent proof that you purchased allegedly defective drywall from Lowe’s and suffered damages from the defective drywall before July 27, 2010, you may be eligible to receive a $2,000 Lowe’s gift card and a cash reimbursement of up to $2,500.

(4) Enhanced Benefits Claims: If you purchased defective drywall from Lowe's and can provide independent proof of purchase and Threshold Proof (as defined at DrywallSettlement.info) of damage in excess of $4,500, you may be eligible to receive up to $100,000.

All claim forms must be submitted by July 15, 2011. The deadline to exclude yourself is May 27, 2011.

You can find claim forms and more information on how to exclude yourself from the Lowe’s Drywall Class Action Lawsuit Settlement at http://drywallsettlement.info.