$457.5K API Financial Solutions data breach class action settlement

API Financial Solutions agreed to pay a $457,500 class action lawsuit settlement to resolve claims it failed to protect consumers from a data breach.

The API Financial Solutions settlement benefits individuals who received a notice from API Financial Solutions regarding a data incident that occurred on or around June 28, 2023.

According to the API Financial Solutions data breach class action lawsuit, the company failed to protect consumers from a 2023 data breach that compromised sensitive consumer information, including Social Security numbers and financial account information. The plaintiffs claim API Financial Solutions could have prevented the data breach through reasonable cybersecurity measures.

API Financial Solutions is a financial services company that provides payroll solutions and human services.

The company hasn’t admitted any wrongdoing but agreed to the $457,500 class action settlement to resolve the data breach class action lawsuit.

Under the terms of the API Financial Solutions settlement, class members can receive either a pro rata cash payment or a larger reimbursement payment for documented losses.

Class members who experienced losses as a result of the data breach can receive up to $5,000 in reimbursement for these damages. These reimbursement payments will compensate class members for unreimbursed fraudulent charges, identity theft expenses, credit monitoring costs and other documented losses.

Class members who did not experience losses as a result of the data breach can still receive a payment from the settlement. These class members will receive a proportional share of the net settlement fund based on the number of claims filed. No payment estimates are available at this time.

All class members are eligible for three years of free credit-monitoring services. These services include three-bureau monitoring, dark web scanning, public record monitoring, medical identity monitoring, identity theft insurance and access to fraud resolution agents.

The deadline for exclusion and objection was Nov. 18, 2024.

The final approval hearing for the API Financial Solutions data breach settlement is scheduled for Jan. 28, 2025.

To receive settlement benefits, class members must submit a valid claim form by Dec. 18, 2024.

Who’s Eligible

Individuals whom API Financial Solutions notified of the data breach

Potential Award

Up to $5,000

Proof of Purchase

Documentation of losses, such as credit card or bank statements, emails, invoices, receipts or telephone records

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

12/18/2024

Case Name

Schleicher v. API Financial Solutions Inc., Case No. 4:23-cv-01431-SRC, in the U.S. District Court for the Eastern District of Missouri

Final Hearing

01/28/2024

Settlement Website

APIFinancialSettlement.com

Claims Administrator

API Financial Settlement
c/o Settlement Administrator
PO Box 25414
Santa Ana, CA 92799
[email protected]
888-836-1461

Class Counsel

Mason A Barney
Tyler J Bean
SIRI & GLIMSTAD LLP

Defense Counsel

LEWIS BRISBOIS BISGAARD AND SMITH LLP