Facts

On June 8, 2022, Plaintiff Kenneth Garges, individually, and on behalf of other members of the general public similarly situated, brought a class action against Defendant Liberty Partners Financial Services, alleging privacy violations following a targeted cyberattack and data breach, resulting in the compromise of the PIII belonging to a class of approximately 28,201 current and former Liberty Partners customers.

PLAINTIFFS' CONTENTIONS: Plaintiffs alleged that Defendant negligently failed to implement and maintain reasonable cybersecurity procedures and practices to protect its customers in violation of the Consumer Privacy Act and Customer Records Act and unjustly enriched themselves with the portion of customers' payments that should have been used for adequate security measures.

DEFENDANT'S CONTENTIONS: Defendant denied all contentions.

Result

Defendants agreed to pay $675,000 to settle all claims, less a $2,500 class service awards to Garges, $225,000 in attorneys' fees, $11,898.08 in costs, and $77,966.45 in settlement administration costs.