ELIGIBLE Americans could get a whopping $53,000 each from a huge data breach settlement – and only one receipt is needed.
TracFone Wireless agreed to the huge settlement to resolve claims it failed to properly prevent a 2021 data breach.
GettyAmericans could get a huge $53,000 payment[/caption]The leak allegedly compromised consumer information.
The TracFone Wireless settlement benefits anyone whose information was accessed in the breach that occurred in December 2021.
According to the class action lawsuit, the cellular company failed to properly protect consumers from the cyber attack.
This was due to its inadequate cybersecurity measures.
The plaintiffs in the case say that TracFone could have stopped the breach if they had had reasonable cybersecurity measures.
TracFone Wireless is a prepaid phone service that offers plans under several brands.
These include Straight Talk, Simple Mobile, Net10 Wireless, Walmart Family Mobile and Total Wireless.
The firm didn’t admit any wrongdoing – but agreed to pay an undisclosed amount of money to resolve the allegations.
According to the terms of the TracFone Wireless settlement, class members can receive reimbursement for both ordinary and extraordinary losses related to the data breach.
The ordinary expense reimbursement payments are capped at $3,250 per person.
These smaller-scale losses include bank fees, credit-related costs, communication charges and up to 15 hours of lost time which pay a rate of $30 per hour.
Class members can also receive up to $50,000 for extraordinary expense reimbursement.
These include documented out-of-pocket losses such as identity theft, fraud or lost business opportunity costs.
As well as receiving reimbursement, class members can also get three years of free credit monitoring services through the settlement.
These free services include one-bureau credit monitoring and $1million in identity theft insurance.
TracFone also agreed to make significant changes to its data security rules.
This is intended to better protect consumer information.
The company will also implement new security measures, employee training and other improvements to prevent a future risk of a breach.
Those who wish to object or exclude themselves have until July 8, 2025 to do so.
And in order to receive settlement benefits, class members must submit a valid claim form by Aug. 7, 2025.
GettyTracFone Wireless agreed to the huge settlement to resolve claims it failed to properly prevent a 2021 data breach[/caption] Read More Details
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