According to The Sun, Time is running out for individuals to claim their portion of a settlement related to a data breach involving the payroll and human resources technology company, Paycom. Remarkably, no proof of loss is required to qualify for compensation.
Background of the Data Breach Lawsuit
The lawsuit against Paycom arose after a significant data breach in 2023, where hackers allegedly accessed personal information from clients through MOVEit Transfer, a secure file transfer application. Plaintiffs in the case claimed that Paycom failed to implement adequate cybersecurity measures to protect client data. Although Paycom has not admitted any wrongdoing, the company has agreed to a $900,000 settlement to resolve the claims and avoid incurring further legal costs.
Eligibility for Compensation
To qualify for a share of the settlement, clients must meet specific criteria:
- Residency: Claimants must reside in the United States.
- Breach Timeline: Individuals must have had their personal information accessed during the breach period, which spanned from July to October 2023. Affected clients should have received notifications from Paycom regarding the compromise of their information, along with a postcard containing a Claim Login ID and Claim Login PIN.
For those who cannot locate their Claim Login information but received a postcard, they can reach out to the class administrator at (844) 804-3284 or via email at info@paycomdatasettlement.com.
Also read: Major U.S. Banks Announce New Branch Closures: Full List Inside
How to File a Claim
Filing a claim is straightforward. Claimants need their Claim Login ID and Claim Login PIN to submit their claims online through the settlement website. Since Paycom is already aware of the affected clients, no documentation is needed to prove losses.
Important Dates:
- Claim Filing Deadline: November 7, 2024
- Exclusion and Objection Deadline: November 7, 2024
- Final Hearing for Settlement Approval: December 13, 2024
Clients who fail to file by the deadline risk missing out on significant compensation.
Payment Structure
The amount distributed to each claimant will depend on several factors, including:
- Documented Losses: Individuals with verified out-of-pocket losses due to the breach can claim up to $2,500 each. This includes reimbursement for up to four hours of lost time addressing identity fraud-related issues, billed at a rate of $25 per hour (totaling $100).
- Identity Theft Claims: Those experiencing losses from identity theft linked to the breach may claim $4,200, along with three years of credit monitoring services.
Other Data Breach Settlements
Consumers should also be aware of other ongoing data breach settlements. For example, select hotel guests may be eligible for up to $4,000 if they file an online form promptly. Additionally, Cash App users might receive checks worth $2,500 as part of a $15 million settlement related to a data breach.
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