HAGENS BERMAN

Date Filed: June 23, 2004
Court: Superior Court
Location: California

Orange County Superior Court gave final approval of a settlement resolving a class-action lawsuit against Hyundai that claimed the company overstated the horsepower of 1.3 million vehicles and inflated the value of Hyundai models.

Hagens Berman Sobol Shapiro served as co-lead counsel in the national settlement, and is also the lead counsel in a similar class actions in Washington, Arizona and Colorado. By resolving the nationwide case, these state class actions are now also resolved, and all consumers will get the settlement's benefits.

The settlement affects owners of the Santa Fe, Sonata, Tiburon and other models sold in the United States. Under terms of the agreement, owners of each vehicle will receive up to $225 in cash, or up to $325 in credit with Hyundai dealers. The cost of the settlement to Hyundai ranges from $76 million to $127 million, depending on whether owners seeking compensation take the cash or dealer credit. The settlement replaces a previous agreement under which Hyundai offered coupons on future purchases.