Paycom Data Breach Settlement: $900K

All U.S. residents notified by Paycom that their personal information was accessed or acquired in the data breach, between July 2023 and October 2023.

Documentation of expenses or losses related to the breach is required for claims up to $2,500 or $4,200.

Paycom has agreed to a $900,000 settlement to resolve claims related to a data breach that allegedly compromised customers' personally identifiable information. This settlement benefits individuals residing in the U.S. whose information was accessed in the breach and who received a notification from Paycom about the incident between July 2023 and October 2023.

The class action lawsuit claims that Paycom, which provides HR and payroll technology, failed to protect customer data from unauthorized access. The data breach reportedly occurred through the MOVEit Transfer application used by Paycom for secure file transfers. Plaintiffs allege that this breach exposed sensitive personal information of Paycom customers. Paycom denies any wrongdoing but agreed to the settlement to resolve the claims.

Class members can choose from several compensation options:

1. Reimbursement for Documented Losses: Up to $2,500 per person for documented out-of-pocket expenses related to the data breach, including:
   • Identity theft or fraud
   • Credit monitoring and freezing fees
   • Time spent resolving issues (up to four hours at $25 per hour for a total of $100, included in the $2,500 limit)
     
     
2. Fraud-Related Reimbursement: Up to $4,200 per person for documented losses resulting directly from fraud or identity theft related to the data breach.
   
   
3. Credit Monitoring: Three years of credit monitoring services, including protection against further data misuse.
   
   
4. Alternative Cash Payment: Class members may opt for a $25 cash payment instead of submitting claims for documented losses or credit monitoring.

Eligible class members must submit a valid claim form by November 7, 2024.