Pacesetter Settles Suit
A former Newport Beach developer will pay $1.8 million in a settlement with owners of 66 Moreno Valley homes who claimed shoddy construction.
The court settlement involving Pacesetter Homes is the construction company’s second, having already paid $2.6 million to 90 other homeowners. The former Newport Beach company is in bankruptcy proceedings.
The settlement was signed Tuesday by Riverside Superior Court Judge Victor Miceli, said Pacesetter attorney Robert O’Connor of San Diego.
Owners of homes in the Sunnymead Ranch area claimed their 1989-built homes had defects that worsened during the winter rains.
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