You will find the details of Kia Engine Class Settlement 2024: Class Action Lawsuit Amount, Payment Dates, Who is Eligible? here. The discussion is based on the fact that the people have to deal with the loss of life with issues in the vehicle. The lawsuit has already instructed the company to provide the Kia Engine Class Settlement to the claimants. They can check the eligibility and more details further from this article.
Kia Engine Class Settlement 2024
Kia has been known for its luxury cars for several years now. The stylish, exquisite engines and functioning cars attract buyers from around the world. Hyundai Motor is the parent company under which the cars are sold.
Bicycles, motorcycles and now cars, the company is consistently taking growth in the graph of the sales. But what has led the claimants to ask for the class action payment? You will be shocked to know that $200 million will be transferred to the respective bank accounts of the candidates.
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The Case
The Kia and the Hyundai owners have faced concerns with their vehicles. The immobilizers were not installed properly due to which the vehicle owners have to face a lot of issues while driving. The value of an immobilizer is that it keeps the vehicle in stop mode until the relevant key is inserted to start the engine.
Can you imagine that there was a fault with such a crucial system? The condition is of a life and death over here. Several drivers had faced the issue with the vehicle which is why they had filed a complaint against the company. The people who have suffered due to the immobilizer that has caused engine seizure, stalling, engine failure, and engine fire have filed a petition in court to sue the company. The companies that are responsible for the defects and the the defendants in this case are Kia Motor Company, Kia America, and a few others. The plaintiffs have also alleged that the few owners have improperly denied the repair of the cars even in the warranty.
On 31st October 2023, the court granted the primary approval for the revised settlement with Hyundai and Kia. The settlement notice will go out to the members by March 2024. If the court approves the final settlement, the disbursement of the amount will be preceded.
Who is Eligible?
A total of 8 million vehicles and might be more had a concern with the engine. The models were from 2011 to 2022. Inadequate anti-theft technology has created a nuisance for drivers. The consumers during this time have complained against the firm and are now waiting to get the payment.
The consumers who have bought the vehicle are eligible. They must have the relevant document that proves them as buyers. The claimants need to represent the warranty card, payment bill, settlement documents, agreement while buying the vehicle, and other necessary documents.
Now that the court has approved the settlement case, the Angeion Group has been appointed as the settlement administration, they will be responsible for checking the eligibility and managing the disbursement of the amount. The class members that are in the records of the company are eligible to receive the settlement amount.
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Class Action Lawsuit Amount
The court has announced that the company will [pay around 1.5 million as the settlement fund and the additional amount as the penalty. The amount to be issued depends upon the defects in the vehicle and the repair cost used on them. The amount also depends upon the warranty of the vehicle. If the extension is paid in the warrant the period of extension will also be considered for the amount.
If the car has been the victim of the engine fire they are eligible to apply for the Qualifying repair. The claimant will be receiving the basic amount of $140 as the part of repairement amount. The candidate may receive compensation for the value of the car with the additional amount for the repairement will be granted.
Payment Dates for Settlement Case
The amount will be disbursed after the final verdict of the case. The final settlement is to be scheduled in July 2024. The procedure of the disbursement and the amount for the claimant will be discussed and finalized in that section. The court will take the initiative for the settlement amount and the schedule will be allotted based on the discussion of Angeion Group.