Following allegations that customer’s personal information was insufficiently protected during a data breach in November 2022, lender Snap Finance LLC has agreed to a settlement of $1.8 million Bloomberg Law reported. The data breach is said to have affected more than 60,000 individuals.
The US District Court for the District of Utah granted final approval of the lease-to-own financer’s settlement agreement on Tuesday with Judge Ted Stewart overseeing the matter.
The class-action settlement will also include approximately $540,000 in attorney’s fees and over $9,000 to cover expenses. Eight named plaintiffs stood in representation of the class, each of whom will receive $2,500 in service awards. The class covers any US resident who received a data breach notification in December 2022.
The handling of personal data has been a significant concern in recent years due to the potential for such breaches to occur. This case highlights the legal action that can follow for companies failing to adequately protect their customer’s personal data.