According to The Sun, Americans have a limited time left to claim their share of a $900,000 payout following a data breach involving Paycom. The company faced a class action lawsuit due to its failure to adequately protect customers’ personally identifiable information (PII).
Paycom’s Settlement Details
While Paycom has not admitted to any wrongdoing, a guilty verdict will allow eligible individuals to receive up to $4,200 each. Members who can document out-of-pocket losses related to the data breach may claim up to $2,500 per person.
Claims for Time Spent Resolving Issues
Individuals can also submit claims for up to four hours spent addressing issues related to identity theft or fraud. This includes instances of personal information misuse, credit monitoring, and freezing credit reports. The compensation rate for this time is $25 per hour, with a maximum total of $100 included in the overall $2,500 limit.
Increased Claims for Documented Losses
For users of Paycom’s payroll service who can provide proof of documented losses resulting from fraud or identity theft, the potential payout increases significantly to $4,200 per person. Additionally, claimants may also request three years of credit-monitoring services as part of the settlement.
Details of the Breach
The data breach occurred between July and October 2023, with hackers allegedly gaining access to client information via MOVEit Transfer, a secure file transfer application. The lawsuit alleges that Paycom did not implement sufficient cybersecurity measures to protect sensitive data.
Key Dates for Claims
Claimants should note the critical deadlines related to the settlement:
- November 7, 2024: Final date to submit claim forms.
- November 7, 2024: Exclusion and objection deadline.
- December 13, 2024: Final fairness hearing.
Those who fail to submit their claims by November 7, 2024, will forfeit their eligibility for the payout.
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Oracle Data Breach Settlement Update
Paycom is not the only company facing consequences for data breaches. Oracle America, Inc. is dealing with a class action lawsuit following a $115 million privacy leak settlement. Individuals who had their personal information collected or sold since August 19, 2018, may be entitled to compensation.
Claims Against Oracle
The lawsuit alleges that Oracle illegally collected personal information and sold it to third parties for advertising purposes without consent. As a result of this litigation, Oracle is revising its data collection practices and will no longer collect user information from forms.
Deadline for Oracle Claims
The final date for submitting claims related to the Oracle data breach was October 17, 2024. At this time, the exact amount each claimant will receive is unknown, as the net settlement fund will vary based on the number of eligible claims submitted.
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