Steel River Systems $200,000 Settlement for Data Breach Victims

TL;DR

Who Benefits?: Individuals notified by Steel River Systems, LLC of a Data Incident around July 2022.

How much can I get?: Up to $310 for ordinary losses and up to $5,000 for extraordinary expenses.

Understanding Your Settlement Compensation

The proposed settlement in the class action lawsuit against Steel River Systems, LLC provides monetary relief to those affected by a data breach incident. The settlement includes reimbursement for lost time and out-of-pocket losses related to the incident, with a cap of $310 per claimant. Additionally, claimants can seek reimbursement for extraordinary expenses up to $5,000, which must be documented and meet specific criteria.

Important Dates

The settlement process is governed by critical deadlines. Claimants must submit their claim forms by December 21, 2023. Those wishing to exclude themselves from the settlement or object to its terms must also do so by this date.

• Fairness Hearing: January 3, 2024 at 10:30 a.m. (Central Time)
• Deadline to File a Claim: December 21, 2023

Identifying Eligible Class Members

Eligibility for the settlement is extended to individuals who received notification from Steel River Systems, LLC that their personal information may have been compromised during the data incident.

The settlement class does not include certain excluded parties, such as the company's officers and directors, those who request exclusion, the judge involved in the settlement, the attorneys of the settling parties, and anyone found guilty of criminal activity related to the data incident.

• Individuals who received a data breach notification

Detailed Breakdown of Settlement Awards

Class members can claim compensation for time and money spent in response to the data breach, including compensation for bank fees, telephone charges, postage, and costs for credit reports or credit monitoring services purchased because of the data incident. Additionally, extraordinary expenses may also recovered under specific conditions.

• Ordinary Losses: Up to $310 for time and out-of-pocket expenses
• Extraordinary Expenses: Up to $5,000 for significant documented losses

The Heart of the Settlement: Data Security

The settlement not only provides monetary compensation but also includes equitable relief. Steel River Systems, LLC has committed to enhancing its data security measures for a period of one year following the final approval of the settlement.

Is Proof Required to Claim the Reward?

Claimants need to provide documentation to substantiate their claims for both ordinary and extraordinary expenses.

The Why Behind the Class Action Settlement

The lawsuit alleges that Steel River Systems, LLC failed to protect personal information adequately, leading to the data breach. The settlement aims to compensate affected individuals and ensure the implementation of improved data security measures. Claimants should act promptly to participate in the settlement benefits.

The next steps include submitting claims, opting out, or objecting to the settlement by the specified deadline.