Final approval
Final approval is the decision by a judge, after a fairness hearing, that the settlement is fair and can take effect. Payments follow once any appeals are resolved.
The fairness hearing is where objections are heard. Class members can attend, and sometimes speak, though very few do. If the judge approves, the settlement becomes binding on everyone who did not opt out.
The claim deadline usually falls before this hearing, not after, which surprises people. By the time a settlement receives final approval, the window to file has often already closed.
Payment is not immediate. Appeals can delay distribution by months or longer, and the administrator only pays once the judgment is final.
Related terms
Preliminary approval
Preliminary approval is the first sign off by a judge on a proposed settlement, allowing notices to go out and the claim period to be scheduled. It is not final, and claims usually cannot be filed yet.
Claim deadline
The claim deadline is the last day the administrator will accept your claim form. Miss it and you almost always get nothing, even if you clearly qualified.
Opt out
Opting out means formally removing yourself from a class action settlement, which gives up your right to any payment but keeps your right to sue the defendant yourself.