you should provide a package and not a class:
\RequirePackage{filecontents}
\begin{filecontents}{myclass.sty}
\ProvidesPackage{myclass}
\RequirePackage{kvoptions}
\DeclareStringOption[default title]{pdftitle}
\ProcessKeyvalOptions*
\RequirePackage{hyperref}
\hypersetup{pdftitle=\myclass@pdftitle}
\end{filecontents}
\documentclass{article}
\usepackage[pdftitle={This is my title}]{myclass}
\begin{document}
test
\end{document}
pdfinfo then gives the following output:
voss@shania:~> pdfinfo test.pdf
Title: This is my title
Subject:
Keywords:
Author:
Creator: LaTeX with hyperref package
Producer: pdfTeX-1.40.12
CreationDate: Sat Feb 4 11:01:15 2012
ModDate: Sat Feb 4 11:01:15 2012
Tagged: no
Pages: 1
Encrypted: no
Page size: 612 x 792 pts (letter)
File size: 10835 bytes
Optimized: no
PDF version: 1.5
for a class you can use it without kvoptions because hyperref already use it.
\RequirePackage{filecontents}
\begin{filecontents}{myclass.cls}
\ProvidesClass{myclass}[12/02/04]
\DeclareOption*{\PassOptionsToClass{\CurrentOption}{article}}
\ProcessOptions\relax
\PassOptionsToPackage{pdftitle={default title}}{hyperref}
\LoadClass{article}
\RequirePackage{hyperref}
\end{filecontents}
\documentclass[12pt]{myclass}
\hypersetup{pdftitle={This is my title}}
\begin{document}
test
\end{document}