We live in a highly technological era. More and more people are going online for personal and/or business use. One of the biggest challenges is keeping information safe from cybercrime, such as ransomware, phishing, identity theft, financial fraud, data breaches, and cyber espionage. Unfortunately, cybersecurity tends to fail us, as was seen by a recent data breach settlement. The silver lining is that data breach victims may be eligible to claim reimbursement, but they must hurry, as the deadline is approaching fast!
The data breach settlement that will make you rich
A nonprofit organization called the National Student Clearinghouse aids students, schools, and employers in accessing educational data. The organization made headlines after being served with a class action lawsuit and has decided to settle the reported claims by paying out money.
Between May 28 and May 31, 2023, National Student Clearinghouse suffered a data breach, formally known as the MOVEit data breach. During the MOVEit data breach, hackers reportedly accessed the MOVEit file transfer software that the company uses and compromised sensitive information, i.e. Social Security numbers. The data breach class action lawsuit plaintiffs claim that the organization could have implemented suitable cybersecurity measures to prevent the data breach.
The organization denied any wrongdoing but agreed to settle for $9.95 million to resolve the claims.
This is how much class members can claim from the settlement
As was seen with other class action lawsuits, class members could claim either money or benefits (and sometimes both) from class action lawsuit settlements. According to the National Student Clearinghouse settlement’s terms, class members may claim reimbursement for ordinary or extraordinary losses that resulted from the data breach.
Ordinary losses
Class members can claim up to $2,500 for bank fees, communication fees, and credit monitoring fees. They may also claim up to four hours lost at a rate of $25 per hour.
Extraordinary losses
Class members can claim up to $10,000 for unreimbursed monetary losses, fraud damages, professional fees, and credit repair fees.
Additional benefits
All class members may claim two years of free credit monitoring and identity theft protection services through the settlement, including three-bureau monitoring, real-time alerts, and up to $1 million in identity theft insurance.
Alternative payment options
Class members who don’t wish to claim reimbursement may receive a $100 alternative cash payment, which could be higher or lower depending on the number of filed claims.
The deadline to claim from the settlement is approaching fast
Some important dates that have passed include the deadline for exclusion and objection, which was April 25, 2025. The final hearing for approval of the data breach settlement was on May 12, 2025.
Class members are advised to hurry up, as the time to file a claim is rapidly approaching. The deadline to submit a valid claim form is in 6 days. Make sure to file your claim by May 26, 2025.
These people qualify as class members
You qualify as a class member if your Social Security number was included in the files affected by the MOVEit data breach between May 28 and May 31, 2023. Depending on the category of losses you experienced, you may qualify for reimbursement of up to $2,500 for ordinary losses or up to $10,000 for extraordinary losses, but you will need documentation of your losses, including:
- Bank statements
- Invoices
- Receipts
- Phone records
Cybersecurity may not always be reliable, but at least in most cases, justice always prevails, especially when it comes to class action lawsuit settlements. If you were affected by the National Student Clearinghouse MOVEit data breach, make sure that you follow the correct steps to file a valid claim form, and hurry! May 26 is around the corner, so do not let this chance slip through your fingers. For more information about this settlement, you can visit Top Class Actions and get informed about how to file a claim.
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