Timios data breach class action settlement - Top Class Actions
Timios data breach class action settlement
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By Top Class Actions
July 15, 2022
timios data breach concept, image of hooded man leaning over laptop
(Photo Credit: Benoit Daoust/Shutterstock)
Timios agreed to a class action lawsuit settlement to resolve claims it failed to protect consumer data in a 2021 data breach.
The settlement benefits individuals who received a mailed notice from Timios informing them the company was the target of a data breach between July 19 and 25, 2021. The deal also includes a subclass of the same consumers from California.
Timios is a real estate solutions company that aims to simplify the closing process with “total transparency” at every step. According to the company’s website, Timios has completed over 380,000 transactions and $62 billion in total closings.
However, consumers involved in Timios closing transactions may have had their data compromised in a 2021 data breach.
In October 2021, Timios began to inform customers their sensitive information may have been compromised in July 2021 when a third party gained access to the company’s network, encrypted certain Timios systems and gained access to personal data.
According to Timios’ notice, consumer Social Security numbers, driver’s license numbers, passport numbers, tax IDs, financial account numbers, payment card numbers and dates of birth may have been accessed by the hackers.
Affected consumers quickly took legal action against Timios, arguing the company failed in preventing and handling the data breach. According to plaintiffs in the case, Timios could have prevented or mitigated the data breach through reasonable cyber security measures. Additionally, the data breach class action lawsuit challenges Timios’ response to the breach. Despite learning of the breach in July 2021, Timios allegedly failed to inform customers of the cyber attack until October 2021 — leaving their information unknowingly compromised for months.
The Timios data breach class action lawsuit contends that customers face the real risk of identity theft and financial fraud as a direct result of the company’s actions and inactions.
Timios hasn’t admitted to any wrongdoing but agreed to fund a class action settlement to resolve these allegations. The settlement fund amount is not disclosed in the settlement agreement.
Under the terms of the settlement, class members can collect up to $500 for expense reimbursement. This payment includes bank fees, telephone charges, internet charges, interest on loans, credit monitoring costs, three hours of lost time (at a rate of $20 per hour) and other losses.
California subclass members are eligible for an additional payment of $50 if they attest they were a resident of California between July 19 and July 25, 2021. These payments are subject to the $500 payment limit for ordinary expenses.
All class members may be eligible for higher payments if they experienced extraordinary expenses as a result of the data breach. Payments of up to $3,000 are available to class members who experienced documented and unreimbursed losses that can be linked to the Timios data breach.
The settlement also provides class members with 18 months of free identity theft protection. “Financial Shield” from Aura offers $1 million in identity theft insurance, dark web monitoring and other benefits. Consumers who opted to receive one year of free credit monitoring from Timios after the data breach notice will have 18 months added to that year long period.
The deadline for exclusion and objection is Aug. 8, 2022.
The final approval hearing for the settlement is scheduled for Oct. 17, 2022.
In order to receive a payment from the Timios data breach settlement, class members must submit a valid claim form by Sept. 7, 2022.
Who’s Eligible
The settlement benefits individuals who received a mailed notice from Timios informing them the company was the target of a data breach between July 19, 2021, and July 25, 2021. The deal also includes a subclass of the same consumers from California.
Potential Award
Up to $3,000
Proof of Purchase
Documentation to support your claims will be needed for full dispersement
Claim Form
CLICK HERE TO FILE A CLAIM »
NOTE: If you do not qualify for this settlement do NOT file a claim.
Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.
Claim Form Deadline
09/07/2022
Case Name
Schellhorn, et al. v. Timios, Inc., Case No. 2:21-cv-08661-VAP-JC, in the U.S. District Court for the Central District of California
Final Hearing
10/27/2022
Settlement Website
TimiosSettlement.com
Claims Administrator
Schellhorn et al. v. Timios, Inc
c/o Kroll Settlement Administration, LLC
PO Box 225391
New York, NY 10150-5391
833-620-3584
Class Counsel
M Anderson Berry
CLAYEO C ARNOLD A PROFESSIONAL LAW CORP
Defense Counsel
Casie D Collignon
Matthew D Pearson
BAKER & HOSTETLER LLP
FOLLOW ARTICLE
200
By Top Class Actions
July 15, 2022
timios data breach concept, image of hooded man leaning over laptop
(Photo Credit: Benoit Daoust/Shutterstock)
Timios agreed to a class action lawsuit settlement to resolve claims it failed to protect consumer data in a 2021 data breach.
The settlement benefits individuals who received a mailed notice from Timios informing them the company was the target of a data breach between July 19 and 25, 2021. The deal also includes a subclass of the same consumers from California.
Timios is a real estate solutions company that aims to simplify the closing process with “total transparency” at every step. According to the company’s website, Timios has completed over 380,000 transactions and $62 billion in total closings.
However, consumers involved in Timios closing transactions may have had their data compromised in a 2021 data breach.
In October 2021, Timios began to inform customers their sensitive information may have been compromised in July 2021 when a third party gained access to the company’s network, encrypted certain Timios systems and gained access to personal data.
According to Timios’ notice, consumer Social Security numbers, driver’s license numbers, passport numbers, tax IDs, financial account numbers, payment card numbers and dates of birth may have been accessed by the hackers.
Affected consumers quickly took legal action against Timios, arguing the company failed in preventing and handling the data breach. According to plaintiffs in the case, Timios could have prevented or mitigated the data breach through reasonable cyber security measures. Additionally, the data breach class action lawsuit challenges Timios’ response to the breach. Despite learning of the breach in July 2021, Timios allegedly failed to inform customers of the cyber attack until October 2021 — leaving their information unknowingly compromised for months.
The Timios data breach class action lawsuit contends that customers face the real risk of identity theft and financial fraud as a direct result of the company’s actions and inactions.
Timios hasn’t admitted to any wrongdoing but agreed to fund a class action settlement to resolve these allegations. The settlement fund amount is not disclosed in the settlement agreement.
Under the terms of the settlement, class members can collect up to $500 for expense reimbursement. This payment includes bank fees, telephone charges, internet charges, interest on loans, credit monitoring costs, three hours of lost time (at a rate of $20 per hour) and other losses.
California subclass members are eligible for an additional payment of $50 if they attest they were a resident of California between July 19 and July 25, 2021. These payments are subject to the $500 payment limit for ordinary expenses.
All class members may be eligible for higher payments if they experienced extraordinary expenses as a result of the data breach. Payments of up to $3,000 are available to class members who experienced documented and unreimbursed losses that can be linked to the Timios data breach.
The settlement also provides class members with 18 months of free identity theft protection. “Financial Shield” from Aura offers $1 million in identity theft insurance, dark web monitoring and other benefits. Consumers who opted to receive one year of free credit monitoring from Timios after the data breach notice will have 18 months added to that year long period.
The deadline for exclusion and objection is Aug. 8, 2022.
The final approval hearing for the settlement is scheduled for Oct. 17, 2022.
In order to receive a payment from the Timios data breach settlement, class members must submit a valid claim form by Sept. 7, 2022.
Who’s Eligible
The settlement benefits individuals who received a mailed notice from Timios informing them the company was the target of a data breach between July 19, 2021, and July 25, 2021. The deal also includes a subclass of the same consumers from California.
Potential Award
Up to $3,000
Proof of Purchase
Documentation to support your claims will be needed for full dispersement
Claim Form
CLICK HERE TO FILE A CLAIM »
NOTE: If you do not qualify for this settlement do NOT file a claim.
Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.
Claim Form Deadline
09/07/2022
Case Name
Schellhorn, et al. v. Timios, Inc., Case No. 2:21-cv-08661-VAP-JC, in the U.S. District Court for the Central District of California
Final Hearing
10/27/2022
Settlement Website
TimiosSettlement.com
Claims Administrator
Schellhorn et al. v. Timios, Inc
c/o Kroll Settlement Administration, LLC
PO Box 225391
New York, NY 10150-5391
833-620-3584
Class Counsel
M Anderson Berry
CLAYEO C ARNOLD A PROFESSIONAL LAW CORP
Defense Counsel
Casie D Collignon
Matthew D Pearson
BAKER & HOSTETLER LLP
