Kaye-Smith Data Breach Settlement: $2M

• Individuals whose personal information was compromised in the June 2022 Kaye-Smith data breach.
• Businesses that suffered financial losses related to the breach.

Documentation required for reimbursement claims includes:

• Receipts
• Credit card statements
• Bank statements
• Invoices

Kaye-Smith Enterprises Inc. has agreed to a $2 million settlement to resolve claims that it failed to protect sensitive personal and business information during a June 2022 data breach. Plaintiffs allege the breach compromised sensitive consumer and business data and that Kaye-Smith failed to notify affected parties in a timely manner.

The class action lawsuit asserts that Kaye-Smith’s failure to implement adequate cybersecurity measures resulted in the breach, exposing personal information such as Social Security numbers, financial data, and other private details. Businesses that used Kaye-Smith’s services also reportedly suffered financial losses as a result of the breach.

Kaye-Smith denies wrongdoing but has agreed to settle the lawsuit to resolve these allegations.

Under the terms of the settlement, eligible class members can receive the following benefits:

1. For Individuals:

   • Tier 1 Claims:

     • Up to $2,500 for documented expenses related to the data breach, such as:
       • Credit monitoring fees
       • Identity theft expenses
       • Fraudulent charges
       • Up to five hours of lost time compensated at $25/hour.

   • Tier 2 Claims:

     • $500 alternative payment for those who took any action in response to the data breach without providing documentation of expenses.

   • Free Credit Monitoring:

     • 12 months of credit monitoring services from CyEx for all claimants.

2. For Businesses:

   • Reimbursement for data breach-related losses.
   • Payments to businesses are not capped but depend on the remaining settlement funds after consumer claims are paid.

3. Business Practice Changes:

   • Kaye-Smith has agreed to improve its cybersecurity and business practices to better protect consumer and client data.

Submit a valid claim form with the required documentation by Dec. 26, 2024, to receive settlement benefits.