Promote Your Attorney Profile on Law.net - Get Found / Earn More!
‘Patent Trolls’ and Big Tech Companies Continue Their Fight
‘Patent Trolls’ and Big Tech Companies Continue Their Figh...
Airbnb Likely Coming to San Francisco
Airbnb Likely Coming to San Francisco
Facebook Sues DLA Piper for Fraud
Facebook Sues DLA Piper for Fraud
IBM to Pay Globalfoundries 1.5 Billion Dollars for Chip
IBM to Pay Globalfoundries 1.5 Billion Dollars for Chip
Legal Job Listings

Lawsuit Filed Against Hyundai and Kia

A lawsuit has been filed against Hyundai Motor Co and its affiliate, Kia Motors Corp, that seeks $775 million in damages. The lawsuit is in response to automakers admitting that they overstated fuel economy on their vehicles. The carmakers, from South Korea, admitted on Friday that they overstated fuel efficiency on over one million vehicles sold recently in Canada and the United States. The company agreed to offer vehicle owners compensation for added fuel costs, according to Reuters.

The lawsuit was filed in United States District Court for Central California and is seeking class action status. It was filed on behalf of 23 Kia and Hyundai car owners. The suit also challenges the compensation plan outlined by the company. The plan states that owners will be issued a debit card that reimburses them for the difference in fuel economy. The company will also add 15 percent to the final amount to acknowledge the inconvenience caused.

Consumer Watchdog sued Hyundai Motor in July for misleading customers by saying that their 2011 and 2012 Hyundai Elantra was more fuel efficient than it actually was. It has been estimated by Moody’s Investors Service that the compensation plan for the automakers will cost $100 million per year until the vehicles are scrapped. The investing service did not estimate how much it will cost the automakers in legal costs.

Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Lawsuit Filed Against Hyundai and Kia by

Tagged: , , ,

Posted by on November 8, 2012. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

Job of the Day
LANDLORD-TENANT ATTORNEY
USA-NY-Bronx

Bronx based boutique landlord-tenant firm with a busy practice seeks a full-time landlord-tenant attorney. The firm represents some of the largest and most reputable landlord and management companies ...

Related Posts: