Hyundai Wins Final Approval on Settlement

Hyundai Motor Co. won final approval of a settlement resolving a class-action lawsuit that claimed the South Korean automaker overstated the horsepower of 1.3 million vehicles and inflated the value of Hyundai models.

Under terms of the agreement, approved June 16, 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 Seoul-based Hyundai is $76 million to $127 million, depending on whether owners seeking compensation take the cash or the dealer credit.