EFS Advisors and Aviben $850,000 Data Breach Settlement

Individuals in the United States whose private information the EFS Advisors and Aviben data breach potentially compromised may be eligible to submit a claim for up to $2,500 plus credit monitoring from a class action settlement.

EFS Advisors LLC and Educators Benefit Consultants LLC d/b/a Aviben agreed to pay $850,000 to settle a class action lawsuit alleged an unauthorized third party attempted to access the companies’ computer network on or about Feb. 22, 2024, potentially exposing the private information of clients and other individuals.

Who can file a claim for a data breach payout?

Class members are individuals residing in the United States whose private information the EFS Advisors and Aviben 2024 data breach potentially compromised.

How much are settlement payments?

Class members have the following benefit options

• Documented out-of-pocket losses: Class members can claim up to $2,500 for documented, unreimbursed out-of-pocket losses that occurred after the data breach and before Oct. 22, 2026, and are fairly traceable to the data breach. This includes fees for credit reports, credit monitoring or identity theft insurance purchased between Feb. 22, 2024, and Oct. 22, 2026, bank fees, postage for contacting financial institutions and monetary losses due to fraud or identity theft.
• Alternative cash payment: Class members who do not submit a documented out-of-pocket losses can submit a claim to receive a one time alternative cash payment of $50.
• Credit monitoring: All class members can elect to receive one free year of three-bureau credit monitoring, which includes at least $1,000,000 in theft protection insurance.

How to claim a class action rebate

To receive a settlement payment, class members can file a claim online or print and complete the PDF claim form and mail it to the settlement administrator.

Settlement administrator's mailing address EFS Data Security Incident Settlement, Attn: Claim Forms, 1650 Arch St. Suite 2210, Philadelphia, PA 19103

The claim deadline is Oct. 22, 2026.

Required proof and claim information

• To submit a claim online, class members must provide the ID and confirmation code from the settlement notice they received.
• To submit a documented losses claim, class members must provide supporting documentation, which may include receipts, bank or credit card statements, or other proof of identity theft or fraud.

Payout options

• PayPal
• Venmo
• Zelle
• Virtual prepaid card
• Paper check mailed to the address provided

Settlement fund breakdown

The $850,000 settlement fund will include:

• Notice and administration expenses: To be determined
• Attorneys’ fees and costs: Up to $325,000
• Service awards to class representatives: $2,500 each ($7,500 total)
• Credit monitoring: Cost determined by the number of claims filed
• Payments to eligible claimants: Remaining settlement funds

Important dates

• Deadline to opt out: Oct. 7, 2026
• Deadline to file a claim: Oct. 22, 2026
• Final approval hearing: Nov. 6, 2026

When is the EFS Advisors and Aviben data breach payout date?

The settlement administrator will issue payments to approved claimants after it processes all claims and the court grants final approval of the settlement.

Why did this class action settlement happen?

The class action lawsuit claimed an unauthorized third party attempted to access the defendants’ computer network on or about Feb. 22, 2024, potentially exposing private information. The plaintiffs alleged that EFS Advisors LLC and Educators Benefit Consultants LLC d/b/a Aviben failed to adequately protect client data.

The defendants agreed to settle to avoid the risk and expense of further litigation.

Sources

1. Claim form
2. Class notice
3. Settlement website FAQ page