CGM Data Breach Settlement: Payout Date & Claim Info

If you were sent a Notice of Data Breach by CGM, L.L.C. d/b/a CGM, INC., you may be eligible to claim benefits from a class action settlement.

CGM, L.L.C. has agreed to pay $1,500,000 to settle a class action lawsuit for alleged failure to properly safeguard the personally identifiable information of consumers, which was potentially compromised during a data breach.

Who are the class members?

To be part of the settlement, you must be a Class Member. You are a Class Member if you received a notice addressed to you regarding the Data Incident. This means:

• You were notified by CGM, L.L.C. about the data breach that occurred between December 15, 2022, and December 28, 2022.
• Your personally identifiable information was potentially compromised during this period.

If you are unsure whether you are included, you can contact the Settlement Administrator for verification.

How much can class members get?

The settlement provides several benefits, and Class Members can claim as many benefits as they are entitled to. The Defendant will pay $1,500,000 into a Settlement Fund, which will be used to provide the following benefits:

• The option to enroll in three years of 3-credit-bureau credit monitoring and Identity Theft Protection Services, including $1,000,000 in identity theft insurance, at no cost to you.
• Valid claims for Ordinary Losses (up to $400.00), Lost Time (at $20/hour up to 4 hours), and Extraordinary Losses (up to $4,000) related to the Data Incident.
• Alternatively, you can elect to receive an Alternative Cash Payment estimated to be $20, subject to increase or decrease based on the total Net Settlement Funds remaining after payment of all other claim types.

For example, if the Net Settlement Fund is $1,000,000 and there are 50,000 valid claims, each claimant would receive $20 ($1,000,000 / 50,000).

How do I get paid?

If your claim is approved, you will receive your payment via check.

If you opted for credit monitoring services, you will receive an activation code by mail or email with instructions on how to activate the service.

$1,500,000 Settlement fund

The settlement fund of $1,500,000 will cover:

• Three years of credit monitoring and Identity Theft Protection Services, including $1,000,000 in identity theft insurance.
• Reimbursement for Ordinary Losses (up to $400.00 per claim).
• Reimbursement for Lost Time (up to $80.00 per claim).
• Reimbursement for Extraordinary Losses (up to $4,000.00 per claim).
• Alternative Cash Payments estimated to be $20 per claim.
• Attorneys' fees of up to $500,000.00.
• Service Awards totaling $11,500 for the seven Class Representatives.

Important dates

• Deadline to File a Claim: August 26, 2024
• Deadline to Opt-Out: June 27, 2024
• Deadline to Object: June 27, 2024
• Final Approval Hearing: August 26, 2024

When is the CGM Data Breach payout date?

A Final Approval Hearing was held on August 26, 2024. The ruling has not yet been returned. When the Court approves the settlement, it still might be months or even a year for any appeals are resolved. After all appeals are resolved, the settlement administrator will make payments to class members.

Why is there a class action settlement?

The class action settlement was reached because the Defendant allegedly failed to properly safeguard the personally identifiable information of consumers, which was potentially compromised during a data breach. By settling, the Defendant avoids the costs, distractions, and risks of litigation, while Class Members receive guaranteed benefits now.

Products or services that are the subject of the settlement

The settlement relates to the alleged failure of CGM, L.L.C. to safeguard personally identifiable information during a data breach that occurred between December 15, 2022, and December 28, 2022.

What happens next?

The Court will hold a Final Approval Hearing on August 26, 2024, to decide whether to approve the settlement. If approved, the Settlement Administrator will begin processing claims and distributing benefits to eligible Class Members.