$900K Data Breach Settlement: Americans Could Score $4,200 with a Simple Claim
According to The Sun , The deadline is approaching for Americans to claim their share of a $900,000 payout resulting from a data breach involving Paycom. The company faced a class action lawsuit for failing to adequately protect its customers’ personally identifiable information. While Paycom does not admit any wrongdoing, the guilty verdict allows eligible individuals to receive up to $4,200 each.
Customers who experienced documented out-of-pocket losses due to the data breach can claim up to $2,500 per person. Additionally, if individuals spent time addressing issues related to identity theft or fraud, they can submit a claim for up to four hours of assistance. This includes time spent on credit monitoring or freezing credit reports, with compensation set at $25 per hour, contributing to the maximum of $2,500.
For those who can provide evidence of losses from fraud or identity theft, the potential payout increases to $4,200. Claimants can also request three years of credit monitoring services as part of the settlement.
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The breach occurred between July and October 2023 when a hacker allegedly accessed client details via MOVEit Transfer, a secure file transfer application. The lawsuit contends that Paycom failed to implement sufficient cybersecurity measures to protect its clients’ information.
Key Dates:
- The deadline to submit claims is November 7, 2024. Those who do not file by this date will forfeit their eligibility for the $900,000 payout.
- The deadline for exclusions and objections is also November 7, 2024.
- Under the settlement terms, class members can choose between cash reimbursements, credit monitoring, or an alternative cash benefit.
- The Final Fairness Hearing is set for December 13, 2024.
