Financial Giant Handing up to $5,000 per Person in Data Breach Settlement After Names, Social Security Numbers and More Exposed - The Daily Hodl

A global financial giant has agreed to compensate those who were impacted by a major 2024 data breach.

According to the newly updated settlement portal, Prudential Financial (PRU) will provide up to $5,000 to those impacted by a cybersecurity attack in February 2024.

The class action lawsuit alleges that in February 2024, hackers were able to enter Prudential’s systems and gain access to files containing customers’ personal information, including names, dates of birth, account numbers, Social Security numbers, driver’s license numbers, addresses, phone numbers and email addresses.

Says the agreement,

“Prudential will establish a Settlement Fund of $4.75 million. The Settlement Fund will first be used to pay court-approved attorneys’ fees and costs, service award for the plaintiffs and the costs of administering the settlement. All of the remaining funds will be used to pay for the benefits described below.

You may claim one of the following benefits:

• Documented out-of-pocket losses.
• Social Security number/tax identification number impact payments.
• CCPA Payments (available to California residents only).
• Pro rata cash payment.”

For out-of-pocket losses, claimants can receive up to $5,000. The losses must have occurred between February 4th, 2024, and October 3rd, 2025, and could include fees for credit reports, credit monitoring, freezing and unfreezing credit, cost to replace IDs, as well as charges incurred from actual identity theft, fraud or other misuse of personal information.

Claims must be filed by October 3rd.

Class action attorneys are asking the court for $1.59 million in fees from the Settlement Fund and a $2,000 service award for each of the class representatives.

Prudential Financial, an American-based financial services company with subsidiaries providing insurance, retirement planning and investment management, has $1.5 trillion in assets under management (AUM).

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