Earlier this month, the U.S. District Court for the Northern District of Georgia approved a proposed $750,000 class settlement between a regional bank and affected consumers after the bank’s third-party property insurance validation vendor was victimized by hackers, resulting in the exposure of consumer information. This settlement comes after a consolidation of multiple other suits brought against the bank in light of the May 2022 data breach.
The class action consumers alleged in their complaint that the bank negligently entrusted consumer information to their third-party vendor ahead of the hacking of consumer information. The bank admits no liability, and the Court has made no finding with respect to liability or wrongdoing on behalf of the bank in its Final Order approving the proposed settlement.
The settlement approved by the Court only resolves those claims against the bank, but not against the third-party vendor who will continue to litigate with the consumer class.
In Re: Overby-Seawell Company Customer Data Security Breach Litigation, 1:23-md-03056-SDG (N.D. GA 2023).