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This settlement is closed!
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American Bank Systems (ABS) agreed to a $1.7 million data security incident class action lawsuit settlement to resolve claims it failed to protect consumer data in a 2020 data breach.
The settlement benefits individuals whose personal information was compromised in the ABS data breach in October and November 2020.
American Bank Systems provides bank and compliance systems to financial institutions. In 2020, ABS was the victim of a ransomware cyberattack that affected many of ABS’ clients.
Perpetrators of the breach dropped 53 GB of consumer data in an attempt to leverage payments from ABS. Compromised data included Social Security numbers, loan information, passwords, emails and more.
Some consumers affected by the data breach took legal action against ABS, arguing the company failed in its duties to protect their data. According to the plaintiffs in the class action lawsuit, American Bank Systems could have prevented the breach with reasonable cyber security measures.
The consumers also challenged how ABS handled the breach after it was discovered, contending the company should have warned affected consumers earlier. This extra time could have allowed consumers to better protect themselves from identity theft and fraud, the ABS class action lawsuit said.
Plaintiffs in the class action lawsuit accused ABS of negligence, unjust enrichment and violation of various Oklahoma laws.
ABS hasn’t admitted any wrongdoing but agreed to resolve these allegations with a $1.7 million data security incident settlement.
Under the terms of the ABS data breach settlement, class members can collect a cash payment. Payments include compensation for inconvenience and documented losses.
For documented losses such as fraudulent charges, class members can receive up to $5,000. Claimants should include documentation such as correspondence, statements, reports and more in order to maximize payments.
Inconvenience payments will vary depending on the number of claims filed, with each class member receiving an equal share of the net settlement fund after fees and document loss payments.
The deadline for exclusion and objection is June 30, 2022.
The final approval hearing for the ABS data breach settlement is scheduled for July 29, 2022.
In order to recover a payment, class members must submit a valid claim form by Sept. 6, 2022.
Who’s Eligible
The settlement benefits individuals whose personal information was compromised in the ABS data breach in October and November 2020.
Potential Award
Up to $5,000
Proof of Purchase
Include documentation such as correspondence, statements, reports and more in order to maximize payments.
Claim Form
NOTE: If you do not qualify for this settlement do NOT file a claim.
Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.
Claim Form Deadline
09/06/2022
Case Name
McPherson v. American Bank Systems Inc., Case No. 5:20-cv-01307-G; Lyles v. American Bank Systems Inc., Case No. 5:21-cv-00023-G, both in the U.S. District Court for the Western District of Oklahoma; and Lautman v. American Bank Systems Inc., Case No. 2:20-cv-01959-RJC in the U.S. District Court for the Western District of Pennsylvania.
Final Hearing
07/29/2022
Settlement Website
Claims Administrator
American Bank Systems Inc. Data Security Incident Settlement
c/o Analytics Consulting LLC
P.O. Box 2009
Chanhassen, MN 55317-2009
info@ABSdatasecurityincidentsettlement.com
866-387-1743
Class Counsel
Joseph P Guglielmo
SCOTT+SCOTT ATTORNEYS AT LAW LLP
Defense Counsel
Claudia D McCarron
MULLEN COUGHLIN LLC
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28 thoughts onAmerican Bank Systems (ABS) data breach $1.7M class action settlement
What’s latest news on this n payment
If you were affected by the ABS Data breach, you would receive notification from your financial institution as well as from ABS. ABS will provide instructions with a claim number to file. This is only open to people who were affected – not random people just hoping to grab a few dollars they are not owed. To be clear, the credit reporting agencies were breached a couple of years ago so EVERYONE who had a credit report at that time had their data obtained and it is most likely on the dark web. Placing an alert on your credit report is a good choice to make.
2020 numerous transactions from account, identify theift claims depart corrected some but not all that was taken loss to-date is loss to my account cayd
Include me
How do we know if we where included in the breach.
Add me I hope I am eligible
I received a notice from concerning my personal information was part of a data breach. Add me to the claim
I received a notice from concerning my personal information was part of a data breach. Add me to the claim