Anthem Agrees to Record $115M Data Breach Settlement
Plaintiffs attorneys are expected to net nearly 33 percent in fees, or almost $38 million.
June 23, 2017 at 02:17 PM
7 minute read
The original version of this story was published on The Recorder
SAN FRANCISCO — Anthem Inc. has agreed to pay $115 million to settle claims related to the massive 2015 cyberattack that affected 78.8 million customers. If approved by U.S. District Judge Lucy Koh of the Northern District of California, the deal would be the largest data breach settlement in history.
As part of the deal, Anthem has agreed to provide two years of credit monitoring and identity protection services to those affected. The deal also creates a $15 million fund to pay out-of-pocket costs for class members stemming from the cyberattack.
Plaintiffs lawyers, led by Eve Cervantez of Altshuler Berzon and Andrew Friedman of Cohen Milstein, will seek up to 33 percent of the settlement funds under the deal, or nearly $38 million, plus up to $3 million in expenses.
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