A US mortgage lender plans to pay $26,000,000 to settle a lawsuit that claims a cyber security breach exposed the personal information of millions of people.
According to the official establishment of the court documentsFlorida-based Lakeview Loan Servicing has agreed to pay $26 million to settle claims related to a data breach that affected 2.53 million people in the United States.
The case is based on a cyber security incident where unauthorized persons accessed company systems and exposed confidential information. Compromised information may include names, Social Security numbers, financial account information and other personal information.
As mentioned on the official website,
“The Settlement Commission awards $26,000,000 in unamortized damages to settle claims arising from the incident.”
According to documentsthe breach affected 2,537,261 people, including residents of several states. The incident was discovered and later disclosed following an internal investigation into unauthorized access to systems.
The lawsuit alleges that Lakeview failed to implement adequate cybersecurity safeguards to protect consumer data and did not take adequate measures to prevent unauthorized access to confidential information.
Although Lakeview has agreed to settle the lawsuit, the company denies any wrongdoing or any liability in connection with the incident.
If approved, the framework will provide compensation to eligible members who file valid complaints, along with other benefits such as credit monitoring and data protection services.
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