Daily Dicta: No, You're Not Getting $125: How the Equifax Settlement Went Off the Rails
Bah. Credit monitoring. It's the new coupon settlement of the class action world.
August 01, 2019 at 12:51 PM
6 minute read
In some ways, the Equifax data breach plaintiffs lawyers are the victims of their own success.
Usually, the challenge in huge class action settlements is locating class members and getting them to claim what's rightfully theirs. (Did you buy Duracell Ultra Power AA batteries between 2009 and 2013? You were entitled to a $6 payment!)
But for Equifax, which exposed the Social Security numbers, birth dates, addresses and, in some cases, the driver's license and credit card numbers of over 147 million people, the problem now is too many claims. Specifically, claims by class members who think they're getting a check for $125 even though they didn't suffer any cognizable damages from the breach.
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