$2M Kaye-Smith Settlement Resolves Lawsuit Over 2022 Data Breach

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Kaye-Smith Enterprises has agreed to pay a $2 million settlement to resolve a proposed class action lawsuit that claimed the marketing solutions and supply chain company failed to protect the personal information of hundreds of thousands of people during a June 2022 cyberattack.

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The official website for the Kaye-Smith data breach settlement can be found at KayeSmithSettlement.com.

According to the settlement agreement, the $2,000,000 deal covers anyone who had information released, exposed or impacted by the data breach, including those who were notified of the incident by Kaye-Smith, Boeing Employees’ Credit Union or any other Kaye-Smith corporate client.

The settlement also covers any entities that had a business relationship with Kaye-Smith or its clients, by contract or not, that were affected financially by the data security incident, excluding those whose claims against the company were resolved prior to October 19, 2023.

To receive a Kaye-Smith settlement cash payout, class members must file a valid claim form online or by mail by December 26, 2024.

You may file a claim form online on this page. Alternatively, to submit a claim by mail, you can download the applicable claim form to print and return to the settlement administrator. Individuals should use the consumer claim form, while eligible companies or other entities should complete the business claim form.

To submit a claim online, you will need to provide your Unique ID and PIN, which can be located on the settlement notice you received in the mail.

As part of the deal with Kaye-Smith, class members are eligible to receive 12 months of complimentary credit monitoring services, the settlement website says. No claim is required to access this benefit, the site adds.

In addition, consumers can submit a claim for up to $2,500 per person for out-of-pocket expenses that are supported by documentation and “fairly traceable” to the data breach, the website shares.

Per the site, eligible class members may also file a claim for up to five hours of lost time spent handling issues related to the incident, at a rate of $25 per hour, and subject to the same $2,500 cap for out-of-pocket losses.

Alternatively, consumers can elect to receive a cash payment of up to $500 in lieu of the above-mentioned settlement benefits, the website states. Final payout amounts will depend on what remains of the settlement fund after payments for out-of-pocket costs and lost time have been made, the site notes.

Separately, eligible companies or entities may submit a claim for reimbursement of business losses that are reasonably related to the data breach, the website relays. According to the site, payment amounts will depend on the total number of business loss claims that are filed.

Finally, as part of the class action settlement, Kaye-Smith has also agreed to modify its business and cybersecurity practices in response to the incident, the website shares.

The Kaye-Smith settlement was preliminarily approved by the court on August 7, 2024. Next, the court will determine whether to grant final approval to the terms of the deal at a hearing scheduled for January 7, 2025.

If the deal is ultimately approved, and after any appeals are resolved, settlement payouts will be issued to eligible class members within 30 days of the date the deal goes into effect, the site says. Activation codes for fraud monitoring services will also be sent to class members if the settlement receives final approval, the website adds.

The lawsuit against Kaye-Smith claimed negligent cybersecurity on the company’s part resulted in a major data breach in June 2022, which exposed individuals’ names, addresses, Social Security numbers, account numbers, credit scores, medical details and other highly confidential information. The class action suit also contended that Kaye-Smith subsequently failed to notify victims in a timely manner that their private data had been compromised.

Did you know that some class action settlements require no proof to submit a claim? Check out the latest open class action settlements.