Hyundai theft settlement payout date revealed | Let’s Find Out!

Hagens Berman, a law firm headquartered in Seattle, has disclosed that individuals who purchased or leased Kia or Hyundai vehicles manufactured between 2011 and 2022 and experienced vehicle theft will receive notifications by or on March 4th.

The notification allows you to submit a claim if you believe you’re eligible for compensation under the settlement. Receiving the notification does not guarantee nor specify a payout date.

Here’s a breakdown of the timeline:

• March 4, 2024: Class members receive notifications.
• May 3, 2024: Deadline to opt-out of or object to the settlement.
• July 15, 2024: Final settlement approval hearing.
• After final approval and any appeals are resolved: Payouts begin for eligible claimants.

Therefore, while notifications have begun, the actual payout date remains undetermined and will depend on the court’s final decision and resolution of any potential appeals.

The exact payout date for the Hyundai/Kia theft settlement is still undisclosed, but here’s what we know:

• The final approval hearing is scheduled for July 15, 2024.
• During this hearing, the court will review objections, the settlement agreement, and legal matters.
• After the court grants final approval and resolves any appeals, claimants who filed legitimate claims will receive their payouts.

Background

Allegations: The lawsuit claimed that certain Hyundai and Kia models from 2011 to 2022 lacked essential anti-theft technology called an engine immobilizer. This lack of security made these vehicles more susceptible to theft, often with a simple tool like a USB charging cord. The lawsuit argued that this constituted a defect and caused owners to experience:

• Vehicle theft and damage
• Increased insurance premiums
• Other theft-related losses

Response and Settlement: The publicity and rising theft rates led to pressure on Hyundai and Kia from authorities and consumers. In May 2023, the automakers reached a proposed settlement valued at more than $200 million. The settlement aims to compensate owners who:

• Owned or leased an affected vehicle (2011-2022 models without engine immobilizer)
• Experienced theft-related losses (stolen vehicle, damage, etc.)