Americans to get payment up to $4,400 from $1.5m data breach settlement – all they need is a bank statement

VICTIMS of a data breach have just hours left to file a claim for a one-time payment from a $1.5 million payout.

The data of thousands of CGM customers was compromised in December 2022

While the service solutions company has not admitted any wrongdoing, the settlement resolves claims made against CGM in a class action lawsuit.

The complaint claims that CGM failed to take enough action to keep the data of consumers safe from the breach.

CGM "failed to implement industry standards for data security, and fail[ed] to properly train employees on cybersecurity protocols, resulting in the Data Breach," it alleged.

Notably, the lawsuit claimed that personally identifying information was accessed during the hack.

This included driving license or state ID numbers and social security numbers.

The lawsuit claims that around 279,063 people were impacted by the breach and are entitled to a payout and benefits.

Eligible consumers who can claim under the settlement will have received a notification of the data breach from CGM.

As well as a cash payment of up to $4,400, claimants can also get credit monitoring services.

They can get three years of three-bureau monitoring as well as identity theft protection of up to $1 million.

However, the amount of money each class member receives will depend on the losses they suffered as a result of the breach.

For ordinary losses, claimants can get up to $400 and $20 per hour for up to four hours of lost time.

Those who have suffered extraordinary losses due to the breach can get up to $4,000.

However, to claim any of these payments, class members will have to show their receipts in the form of proof of loss.

Such documents include invoices, account statements, credit reports, and insurance claims.

If there are no records of documented losses, claimants can instead get a cash payment believed to be around $20.

This amount could change depending on the number of claims filed.

What's a class-action settlement?

Class action lawsuits offer groups of people, or 'classes,' a way to band together in court.

These suits are often brought by one or a few people who allege a company or other entity has wronged a large group of people.

When a suit becomes a class action, it extends to all "class members," or people who may have similar complaints to those who filed the suit.

Companies often settle class actions - offering payment to class members who typically waive their right to pursue further legal action by accepting money.

These payout agreements frequently include statements by the defendant denying wrongdoing. Companies tend to settle class actions to avoid the costs of further litigation.

Pollution, discrimination, or false advertising are a few examples of what can land a class action on a company's doorstep.

However, class members have to be aware of a couple of key dates that will affect their claim - one deadline has already passed.

On June 27, class members who wanted to object to the terms of the settlement or exclude themselves from the payout should have done so by then.

Those who failed to do this will not be able to bring future legal action against CGM regarding the same claims.

They will also not be paid if they do not submit a claim form.

All claim forms have to be submitted by August 26, 2024.

This means class members have just a few hours left to file with a final approval hearing scheduled for later today.

Meanwhile, some Americans are eligible for a $6,000 payout from a $2.7 million settlement from a dental company.