Law360 SitusAMC Settles $5.3M Data Breach Lawsuit Amid Judicial Review
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- •SitusAMC has agreed to a $5.3 million settlement for a data breach class action lawsuit.
- •Affected individuals can receive a pro rata cash payment or reimbursement for losses.
- •Judicial scrutiny is ongoing, with concerns about the adequacy of the settlement.
SitusAMC Holdings Corp. has agreed to a $5.3 million settlement in a proposed class action lawsuit stemming from a data breach. The settlement offers affected individuals a pro rata cash payment estimated at $75 or reimbursement for documented losses. Additionally, California residents may receive a statutory payment of $50, subject to pro-ration based on valid claims. The settlement is currently under judicial scrutiny, with Judge Lewis J. Liman requesting clarification on standing issues. The breach has raised concerns about data protection practices and the adequacy of the settlement amount for victims. The case is being handled in the US District Court for the Southern District of New York. Further developments regarding the approval of the settlement are anticipated.
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