CGM Inc. $1,500,000 Data Breach Settlement

Will Gendron
Editor in Chief
Published
June 18, 2024 1:32 PM
Updated
July 24, 2024
CGM Inc. $1,500,000 Data Breach Settlement
Settlement Open for Claims
Award:
$20 - $4,000
Deadline:
August 26, 2024
SUBMIT CLAIM

CGM, L.L.C. d/b/a CGM, INC. has agreed to pay $1,500,000 to settle a class action lawsuit for alleged failure to properly safeguard personally identifiable information that was compromised in a December 2022 data breach. This settlement provides various benefits to those affected by the data incident.

Who Benefits?: Individuals who received a notice addressed to them regarding the Data Incident are eligible to benefit from this settlement.

How much can I get?: Eligible individuals can receive up to $400 for Ordinary Losses, up to $4,000 for Extraordinary Losses, and up to $80 for Lost Time. Alternatively, they can opt for an estimated $20 cash payment.

Important Dates

  • Deadline to File a Claim: August 26, 2024
  • Deadline to Opt-Out: June 27, 2024
  • Deadline to Object: June 27, 2024
  • Final Approval Hearing: August 26, 2024

Can I Claim an Award?

If you received a notice addressed to you regarding the Data Incident, you are a member of the Settlement Class and eligible to claim an award. The Class Members include individuals whose personally identifiable information was potentially compromised between December 15, 2022, and December 28, 2022, due to unauthorized access to CGM's computer systems.

Class Members can claim various benefits including credit monitoring services, reimbursement for out-of-pocket expenses, and compensation for Lost Time. To be eligible, you must submit a claim form by the specified deadline.

  • Individuals who received a notice about the Data Incident.
  • Those whose personally identifiable information was potentially compromised between December 15, 2022, and December 28, 2022.

How Much Can I Claim?

The settlement provides several benefits to Class Members. First, they can opt for three years of 3-credit-bureau credit monitoring and Identity Theft Protection Services, including $1,000,000 in identity theft insurance, at no cost. Additionally, Class Members can claim reimbursement for Ordinary Losses (up to $400), Lost Time (up to $80), and Extraordinary Losses (up to $4,000).

Alternatively, Class Members can choose to receive an estimated $20 cash payment instead of claiming reimbursement for losses and Lost Time. This amount may vary depending on the total Net Settlement Funds remaining after other claims are paid.

  • Ordinary Losses: Up to $400 for documented out-of-pocket expenses related to the Data Incident.
  • Lost Time: Up to $80 for time spent dealing with the effects of the Data Incident.
  • Extraordinary Losses: Up to $4,000 for documented unreimbursed costs related to identity theft or fraud resulting from the Data Incident.

MCG Data Breach Settlement Award Calculator

Estimated Number of Claimants:

Calculation Details:

    Is Proof Required to Claim the Reward?

    Yes, proof is required to claim certain awards. Class Members must provide documentation for Ordinary Losses and Extraordinary Losses. For Lost Time, Class Members can self-certify the time spent dealing with the Data Incident.

    • Ordinary Losses: Documentation of out-of-pocket expenses.
    • Extraordinary Losses: Documentation of unreimbursed costs related to identity theft or fraud.
    • Lost Time: Self-certification of time spent dealing with the Data Incident.

    How to Claim Your Award

    To claim your award, you must submit a claim form. Forms can be submitted online or by mail.

    Mailed claim forms must be sent to the settlement administrator:

    Cain v. CGM, Inc.

    c/o Kroll Settlement Administration

    P.O. Box 225391

    New York, NY 10150-5391

    $1,500,000 Settlement Fund

    The settlement amount is $1,500,000, which will be used to provide various benefits to Class Members. This includes credit monitoring services, reimbursement for losses, and cash payments.

    The settlement amount was calculated to cover the costs of credit monitoring services, valid claims for Ordinary Losses, Extraordinary Losses, and Lost Time. Any remaining funds will be distributed as cash payments to eligible Class Members.

    Why Is There a Class Action Settlement?

    The class action settlement was reached to resolve claims that CGM, INC. failed to properly safeguard personally identifiable information, leading to a data breach that occurred on December 15, 2022. It was originally disclosed to the Maine Attorney General that the breach affected 315,346 people in the United States.

    The settlement aims to provide compensation and benefits to those affected by the incident.

    By settling, the parties avoid the uncertainties and costs associated with continued litigation. The settlement provides guaranteed benefits to Class Members without the need for prolonged legal proceedings.

    Notice Letter

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    Status
    Open for Claims
    Category
    Data Breach
    Settlement Amount
    $1,500,000
    Award
    $20 - $4,000
    Is Proof Required?
    Proof Required
    Proof Required
    Days Remaining to file Claim
    33
    Claim Deadline
    August 26, 2024
    Fairness Hearing
    Final Approval Hearing
    August 26, 2024
    Case Number
    1:23-CV-02604-SEG
    Case Title
    Cain et al. v. CGM, L.L.C. d/b/a CGM, INC.
    State
    Court
    Jurisdiction
    Claims Administrator
    Kroll Settlement Administration LLC PO Box 225391 New York, NY 10150-5391 1-833-425-4613
    Class Counsel
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