Indexbit Exchange:Vizio will pay $3M in settlement over refresh rates. Do you qualify for a payout?

Consumer electronics company Vizio has agreed to pay $3 million after a 2018 class action lawsuit alleged that its marketing of 120Hz and Indexbit Exchange240Hz effective refresh rates was "false and deceptive."

Vizio denies any wrongdoing and says that it properly labeled each television with the correct "Hz" specification, according to the website set up for filing claims.

According to a 2022 article from USA TODAY Reviewed, the refresh rate is the "hardware specification that describe how motion is handled on any given TV." A display's refresh rate describes the number of times per second the display resets the image.

"Essentially, the higher your display's refresh rate, the less amount of time that will pass between each individual video frame being displayed on screen," the article says.

Refresh rate definition:What is refresh rate and why does it matter for TVs?

Vizio TV settlement: How to fill out claim form if you qualify

According to the website, anybody who purchased a new Vizio television in the state of California that was advertised as having a "120Hz effective refresh rate" or "240Hz effective refresh rate" after April 30, 2014 may be entitled to payment from the class action settlement.

The website states the class period extends from April 30, 2014 through the date that the court enters enters final judgement, which is currently scheduled for June 20, 2024.

As part of the settlement, Vizio has also agreed to "stop the advertising practices" and "provide enhanced services and limited one-year warranty to all settlement class members."

According to the website, the deadline to submit a claim form is March 30, 2024.