Brad Pitt invites a thousand friends for a ‘Make it Right’ fundraiser May 17 _lowres (copy)

Advocate Photo by VERONICA DOMINACH --Make It Right homes on December 20, 2013 in New Orleans. 

A lawsuit has been filed in New Orleans, accusing Brad Pitt and his Make It Right Foundation of building "substandard" Lower 9th Ward homes post-Katrina "that are deteriorating at a rapid pace while the homeowners are stuck with mortgages on properties that have diminished values," according to an NBC News report.

The class-action lawsuit, which was filed in Orleans Parish Civil District Court, accuses the foundation of unfair trade practices, breach of contract and fraud, the report said.

A key piece of the complaint is that the foundation allegedly found issues with building materials and the homes’ designs. The problems, the suit says, needed significant repair, but Make It Right didn't tell homeowners.

Attorney Ron Austin told WWL-TV last month that he planned to bring a lawsuit against Pitt's foundation on behalf of residents, some of whom have reported illnesses and severe headaches. 

“We have filed to make Make It Right make it right," Austin said in a statement to NBC.

Click here to read NBC's full story.