Kia, Hyundai Drivers’ $145 Million Theft Deal Gets Final Stamp

A federal judge granted final approval for a $145 million settlement that will resolve consumers’ claims alleging Kia Corp. and Hyundai Motor Co. knowingly sold millions of vehicles lacking adequate anti-theft features.

The US District Court for the Central District of California rejected several objectors’ arguments that the non-reversionary $145 million common fund isn’t enough to compensate all Kia and Hyundai owners and that the fund should be uncapped or worth at least $1 billion.

No objector sufficiently rebutted the plaintiffs’ expert’s analysis that roughly $148 million, after applying a litigation risk discount, would sufficiently compensate owners who submitted claims, ...