“Anthem Agrees to $115 Million Settlement of Data Breach Lawsuit,” The Wall Street Journal

Cyberattack in 2015 exposed personal information of millions of health-care customers.

Anthem Inc. has agreed to pay $115 million to settle a class-action lawsuit filed after a 2015 cyberattack exposed personal information of more than 78 million people, the company said Friday.

The class-action case resulted from the consolidation of more than 100 separate lawsuits filed against the Indianapolis company, plaintiffs’ attorneys said.

Anthem said the settlement fund will pay for an additional two years of credit monitoring and identity protection services for plaintiffs. The company also said $15 million will be allocated to pay actual out-of-pocket costs, up to a set amount, that plaintiffs claim they incurred due to the breach. Class members who already have credit services can submit a claim for cash compensation instead of receiving the credit services provided by the settlement, the company said.

The settlement also requires the company to guarantee funding for internal information security and takes additional steps to secure its IT systems.

Attorneys from Altshuler Berzon LLP, Cohen Milstein Sellers & Toll PLLC, Girard Gibbs LLP, and Lieff Cabraser Heimann & Bernstein LLP are representing plaintiffs in the litigation.

The full article can be viewed here.