$750K Loren D. Stark Settlement Resolves Data Breach Class Action Lawsuit
Kohn et al. v. Loren D. Stark Company, Inc.
Filed: August 18, 2023 ◆§ 4:23-cv-03035
A $750,000 settlement has been reached to resolve a class action lawsuit filed over a data breach experienced by the Loren D. Stark Company in 2022.
A $750,000 settlement has been reached to resolve a proposed class action lawsuit filed over a data breach experienced by the Loren D. Stark Company (LDSCO) in 2022.
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The class action settlement covers more than 58,000 people who were sent notification by LDSCO stating that their personal information was or may have been compromised in the data incident, which the retirement plan consulting firm says it detected in October 2022.
The official website for the Loren D. Stark settlement can be found at LDSCODataSettlement.com.
Class members had until December 17, 2024 to file a claim form for settlement benefits.
According to court documents, covered individuals who filed a valid, timely claim are eligible for reimbursement of up to $5,000 in documented out-of-pocket losses that are “fairly traceable” to the LDSCO data breach. Class members could have also submitted a claim to get a pro-rated cash payment of up to $70.
The court granted preliminary approval to the settlement in September 2024, and a final approval hearing is slated for January 21, 2025.
“If the Court approves the Settlement, eligible Settlement Class Members whose claims were approved by the Settlement Administrator will be sent payment after all appeals and other reviews, if any, are completed,” the settlement site reads. “Please be patient.”
Initially filed in August 2023, the LDSCO data breach lawsuit alleged that the defendant failed to properly secure individuals’ personal information stored on its computer systems. Per the case, LDSCO discovered on October 18, 2022 that cybercriminals had infiltrated its network, stealing names and Social Security numbers.
The company has, as part of the settlement, agreed to remedy the issues that led to the cyberattack and implement other business practices to adequately protect information in its possession.
Head to ClassAction.org’s settlements page for a complete list of data breach settlements.
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