SN Servicing Corp. data breach $900K class action settlement - Top Class Actions
N Servicing Corp. agreed to pay $900,000 to resolve claims that its lack of cybersecurity measures resulted in a October 2020 data breach.
The settlement benefits individuals whose personal information was accessed by unknown third parties during SN Servicing’s October 2020 data breach.
In July 2021, SN Servicing announced it had been the victim of a data breach in October 2020.
After discovering the breach Oct. 15, 2022, SN Servicing reportedly conducted an investigation. The investigation, which concluded Nov. 24, 2022, found third parties had accessed names, contact information, birth dates, Social Security numbers and loan information of SN Servicing’s customers.
“SN takes clients’ privacy very seriously and has taken steps to notify any clients who may have been affected by this incident,” the company said in a press release. “SN sincerely regrets any inconvenience that this incident may cause and remains dedicated to protecting clients’ personal information.”
These platitudes were not enough for some consumers who took legal action against the company months after the announcement.
According to the data breach class action lawsuit, SN Servicing could have prevented the data breach through reasonable data security practices. The company’s alleged failure to protect consumer data exposed sensitive information to hackers, the plaintiff claims.
According to the data breach class action lawsuit, victims of the SN Servicing data breach face the risk of serious financial harm including fraud, identity theft and damage to their creditworthiness and ability to obtain loans in the future. The plaintiff in the case sought to hold SN Servicing accountable for these damages.
SN Servicing hasn’t admitted any wrongdoing but agreed to pay $900,000 to resolve these allegations.
Under the terms of the SN Servicing data breach settlement, class members can receive a payment based on what information of theirs was compromised.
Class Members whose Social Security numbers were potentially compromised in the breach can receive a $75 payment. Class members whose personal information, but not Social Security numbers, was potentially compromised in the breach can receive a $25 payment.
Settlement payment amounts may be increased or decreased depending on the number of class members who participate in the settlement. If any funds remain in the settlement fund after payments are distributed, the money will be donated to a charitable organization. No funds will revert to SN Servicing.
In addition to payments, all class members are eligible for one year of credit monitoring and identity theft protection through myTrueIdentity services.
The deadline for exclusion and objection is Sept. 21, 2022.
The final approval hearing for the SN Servicing data breach settlement is scheduled for Nov. 16, 2022.
The settlement benefits individuals whose personal information was accessed by unknown third parties during SN Servicing’s October 2020 data breach.
In July 2021, SN Servicing announced it had been the victim of a data breach in October 2020.
After discovering the breach Oct. 15, 2022, SN Servicing reportedly conducted an investigation. The investigation, which concluded Nov. 24, 2022, found third parties had accessed names, contact information, birth dates, Social Security numbers and loan information of SN Servicing’s customers.
“SN takes clients’ privacy very seriously and has taken steps to notify any clients who may have been affected by this incident,” the company said in a press release. “SN sincerely regrets any inconvenience that this incident may cause and remains dedicated to protecting clients’ personal information.”
These platitudes were not enough for some consumers who took legal action against the company months after the announcement.
According to the data breach class action lawsuit, SN Servicing could have prevented the data breach through reasonable data security practices. The company’s alleged failure to protect consumer data exposed sensitive information to hackers, the plaintiff claims.
According to the data breach class action lawsuit, victims of the SN Servicing data breach face the risk of serious financial harm including fraud, identity theft and damage to their creditworthiness and ability to obtain loans in the future. The plaintiff in the case sought to hold SN Servicing accountable for these damages.
SN Servicing hasn’t admitted any wrongdoing but agreed to pay $900,000 to resolve these allegations.
Under the terms of the SN Servicing data breach settlement, class members can receive a payment based on what information of theirs was compromised.
Class Members whose Social Security numbers were potentially compromised in the breach can receive a $75 payment. Class members whose personal information, but not Social Security numbers, was potentially compromised in the breach can receive a $25 payment.
Settlement payment amounts may be increased or decreased depending on the number of class members who participate in the settlement. If any funds remain in the settlement fund after payments are distributed, the money will be donated to a charitable organization. No funds will revert to SN Servicing.
In addition to payments, all class members are eligible for one year of credit monitoring and identity theft protection through myTrueIdentity services.
The deadline for exclusion and objection is Sept. 21, 2022.
The final approval hearing for the SN Servicing data breach settlement is scheduled for Nov. 16, 2022.
