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This settlement is closed!
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CSI Financial Services, doing business as ClearBalance, will pay $2.65 million to resolve class action lawsuit claims it mismanaged a 2021 data breach.
The settlement benefits a nationwide class of individuals whose personal identifying information was compromised in the CSI Financial Services data breach between March 8 and April 26, 2021. The settlement also covers a subclass of class members who lived in California at the time of the data breach.
In April 2021, CSI Financial Services — also known as ClearBalance — learned of a data breach when it detected and prevented an unauthorized wire transfer from a ClearBalance account. An investigation into the issue reportedly revealed that a third party gained access to ClearBalance email accounts in March and April of 2021.
According to a data breach notice, patients of certain hospitals or healthcare providers could have had their information compromised. This includes names, Social Security numbers, birth dates, ID numbers, contact information, banking information, clinical data, health insurance information and more.
Affected consumers took legal action against CSI Financial Services in a class action lawsuit, arguing the company failed to prevent the data breach or, once the breach was discovered, inform consumers in a timely fashion.
Plaintiffs say that CSI Financial could have prevented or mitigated the data breach by taking reasonable cybersecurity measures to protect its systems from third parties.
The class action lawsuit also contends CSI Financial Services should have informed consumers of the breach as soon as they learned of the issue instead of waiting months to inform authorities and affected individuals.
CSI Financial Services hasn’t admitted any wrongdoing but agreed to a $2.65 million settlement deal to resolve these allegations.
Under the terms of the ClearBalance class action lawsuit settlement, class members can receive a cash payment for losses resulting from the data breach.
Class members who spent time remedying the data breach can claim up to three hours of lost time at a rate of $22.50 per hour, for a maximum lost time payment of $67.50.
Class members can claim up to $1,000 in out-of-pocket expenses such as credit monitoring, miscellaneous expenses, credit freeze costs and more.
Additional payments of $5,000 are available to class members who experienced extraordinary out-of-pocket losses such as falsified tax returns, fraudulent government or medical claims and more.
Class members from California can recover an additional $100 to resolve claims CSI Financial Services violated California privacy laws.
In addition to receiving cash payments as described above, class members can receive two years of identity-theft protection free of charge.
The deadline for exclusion and objection is Nov. 9, 2022.
The final approval hearing for the ClearBalance class action lawsuit settlement is scheduled for Jan. 20, 2023.
In order to receive settlement benefits, class members must submit a valid claim form by Nov. 24, 2022.
Who’s Eligible
The settlement benefits a nationwide class of individuals whose personal identifying information was compromised in the CSI Financial Services data breach between March 8 and April 26, 2021. The settlement also covers a subclass of class members who lived in California at the time of the data breach.
Potential Award
Varies
Proof of Purchase
Proof of purchase not applicable
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
11/24/2022
Case Name
Final Hearing
01/20/2023
Settlement Website
Claims Administrator
ClearBalance Settlement Administrator
1650 Arch St. Suite 2210
Philadelphia, PA 19103
info@ClearBalanceClassActionSettlement.com
844-999-2066
Class Counsel
Timothy G Blood
BLOOD HURST & O’REARDON LLP
David Lietz
MILBERG COLEMAN BRYSON PHILLIPS GROSSMAN PLLC
Defense Counsel
Jon Kardassakis
LEWIS BRISBOIS BISGAARD & SMITH LLP
Read About More Class Action Lawsuits & Class Action Settlements:
- SN Servicing Corp. data breach $900K class action settlement
- PCS Revenue Control Systems data breach $1.135M class action settlement
- Salinas Valley Memorial Healthcare System data breach $340K class action settlement
- Capital One data breach $190M class action settlement
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