Capital One Data Breach Lawsuit

December 25, 2022 by Lewis
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In July of this year, a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York over a Capital One data breach. This breach affected 106 million people and exposed their personal information for nearly four months. The information exposed includes social security numbers, full names, dates of birth, and linked credit card information. This article will discuss the details of the data breach, class actions, settlements, and cost claims.

Class action

A Miami-based law firm has filed a class action lawsuit against Capital One Financial Corporation over the company’s data breach. A massive settlement would be a significant deterrent and compensate those affected by the data breach. Listed below are some of the key factors to consider before filing a lawsuit. Read on to learn more about the class action lawsuit. If filed successfully, it could net millions of dollars for consumers.

The court has certified a class action lawsuit against Capital One for the massive data breach in April 2019. The company hacked the personal information of at least six million Canadians and several corporations. The hacking revealed one million social insurance numbers, as well as credit card account information for 106 million North American customers. The hacking occurred between March 12 and April 21, 2019, and was caused by a misconfigured web application firewall. Capital One rented servers to store personal information.

Settlements

The Berger Montague law firm is assisting a Co-Lead Counsel team in the Capital One data breach class action. This cyber-attack has affected more than 100 million customers of Capital One credit cards. The affected data includes names, self-reported income, and credit card application data, along with transaction data and linked bank account numbers. In addition, the data breach also exposed the personal financial information and social security numbers of approximately 98 million U.S. residents.

A $190 million deal reached with Capital One and Amazon over a year is one of the largest data breach multidistrict litigation settlements in history. The Virginia federal court directed attorneys to re-interview the deponent in the case, but partially denied the customers’ general discovery request. The Settlement Fund will reimburse Settlement Class Members for their time spent investigating and preventing the misuse of their personal information.

Costs

The cost of a Capital One data breach lawsuit could run anywhere from $100 million to $500 million. The bank settled the case after admitting to a breach that exposed the personal information of over 100 million people. In the U.S. alone, Capital One could face fines between $100 million and $500 million. However, the company has not disclosed the amount it expects to pay for the settlement, nor has it announced how much money it will spend to repair the damage.

The proposed $190 million settlement between the bank and the Class Action Consumer Protection Act will cover the expenses of 98 million customers, including attorney fees and service awards to class representatives. The bank has agreed to make changes to its security procedures and will reimburse affected customers up to $25,000 for out-of-pocket expenses. Aside from the money Capital One will pay for the victims, the settlement will cover the costs of a “state-of-the-art” notice program and service awards to class representatives.

Claims of Unjust Enrichment

Claimants in the Class Action Case Broderick v. Capital One et al. are alleging various claims against the bank, including fraud, unjust enrichment, and violation of the RICO Act. The plaintiffs are represented by the law firm Pierce Bainbridge LLP. The plaintiffs’ lawsuit alleges several violations of state law and the RICO Act.

The Court has previously ruled in favor of Amazon, claiming that it owed Plaintiffs nothing for delivering PII to its servers. This argument is unsupported by the Complaint’s allegations that Amazon charged Capital One for its use of its servers and profited from Plaintiffs’ PII. The Court also notes that Amazon was aware of Capital One’s efforts to upload Plaintiffs’ PII.

Impact on customers

A class action lawsuit filed against Capital One has settled for $190 million. The compromise involved the information of 98 million people. The company did not acknowledge wrongdoing, but it did agree to pay a cash settlement for affected customers. A judge must still approve the settlement, but it allows class members to collect up to $25,000 in out-of-pocket expenses and lost time. Among the items that may be reimbursed are the time, money, and professional fees they spent protecting their identities.

In addition to the financial damages suffered by the plaintiffs, the class action seeks to protect them from future breaches of their personal information. In addition to free identity protection and credit monitoring services, Capital One has notified its customers of changes in their credit reports and other sensitive personal information. By preventing further misuse of their information, customers are given the power to take action against the companies that have mishandled their data.

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