Welcome

Welcome to the Cordero Class Action Settlement website. This website provides information regarding a proposed settlement of a lawsuit concerning certain “Notices of Intention to Dispose of Motor Vehicle” sent to certain California residents who financed the purchase of a motor vehicle through American Honda Finance Corporation (AHFC) (which also does business as Honda Financial Services) and had their motor vehicle repossessed or voluntarily surrendered between November 25, 2010 and April 25, 2015.

Capitalized terms not otherwise defined here shall have the same meaning as in the Settlement Agreement and Release.

California residents who financed the purchase of a motor vehicle through Honda Financial Services and had their motor vehicle repossessed or voluntarily surrendered between November 25, 2010 and April 25, 2015 are entitled to a reimbursement of 50% of the amount paid on their post-repossession deficiency balance if the “Notice of Intention to Dispose of Motor Vehicle” (“Notice”):
  1. only gave the right to redeem the motor vehicle and not the right to reinstate; and
  2. did not provide a statement of reasons denying the right to reinstate.
In addition, AHFC will waive any remaining post-repossession deficiency balance, cease any efforts to collect post-repossession deficiency balances, and submit requests to credit reporting agencies to delete AHFC’s tradeline.

This proposed settlement was preliminarily approved by the Superior Court of California, for the County of San Mateo on October 14, 2015. If you received a Class Notice in the mail, AHFC has identified you as a potential member of the Settlement Class and you may be entitled to the cash benefits if you paid any amount on the post-repossession deficiency balance and other relief described.

If the Court approves the proposed settlement at the Final Approval Hearing and the settlement becomes Final, AHFC will provide cash reimbursement to the Settlement Class.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT 

  • Do Nothing and Remain in the Settlement Class:
    If you do nothing, you will remain a Settlement Class Member. Settlement Class Members will get credit repair, any outstanding deficiency balance will be waived, and you will give up the right to be part of any other lawsuit against AHFC about the legal claims in this case. If you paid any part of a post-repossession deficiency balance, you will receive a refund of 50% of the amount you paid. If you want to remain a member of the Settlement Class, you do not have to do anything to receive the benefits under the settlement.

  • “Opt-Out” or Exclude Yourself From the Settlement Class:
    If you validly and timely request exclusion from the Settlement Class, you will not be bound by the Final Order and Judgment entered by the Court following the Final Approval Hearing. This is the only option that allows you to be part of any other lawsuit against AHFC about the legal claims in this case. Excluding yourself means you cannot receive any of the monetary benefits of the settlement or comment upon the settlement, but you will be able to file a lawsuit on your own behalf. To Opt-Out of the Settlement Class, you must follow the procedures outlined in the Notice and your request to opt-out must be post-marked by February 11, 2016.

  • Object To or Comment Upon the Settlement:
    If you wish to object to or comment on any part of this settlement, you must file your objection with the Court and mail a copy to the Class Administrator by February 11, 2016. However, you will remain in the Settlement Class and give up the right to be part of any other lawsuit against AHFC about the legal claims in this case. To object to the settlement, you must follow the procedures outlined in the Notice.

  • Attend the Final Approval Hearing:
    A Final Approval hearing is currently scheduled for April 14, 2016. At the Final Approval Hearing, the Court will consider whether to grant final approval to the settlement. The Court will also consider Class Counsel's motion for attorneys' fees and Plaintiffs' incentive awards. The attorneys' fees awarded to Class Counsel will be paid directly by AHFC and will not reduce the benefits available to the Settlement Class Members. Attendance at the Final Approval Hearing is not mandatory or necessary. Any member of the Settlement Class may attend the hearing, however, if he or she wishes to do so. Settlement Class Members who wish to be heard at the Final Approval Hearing must follow the procedures outlined in the Notice.

These rights and options – and the deadlines to exercise them – are explained in the Notice. While the settlement has been preliminarily approved, the Court still has to decide whether to grant final approval to the settlement at the Final Approval Hearing currently scheduled for April 14, 2016. No cash benefits will be paid unless and until the settlement becomes Final. Please be patient because this process will take time. Please check this website regularly for updates.