Up to $5,000 per Person To Be Handed Out Over Massive Data Breach That Exposed Info of 2,501,324 People
A significant $10 million class action settlement is being offered following a data security breach at Nelnet, a major student loan servicing pipeline in the United States. The incident, which occurred in August 2022, impacted millions of student borrowers serviced by Nelnet, including those with loans from Oklahoma Student Loan Authority (OSLA) and Edfinancial.
The breach exposed sensitive personal information such as names, addresses, email addresses, phone numbers, and Social Security numbers of over 2.5 million borrowers. Affected individuals have the opportunity to claim up to $5,000 if they can provide documented evidence of out-of-pocket losses resulting from the data security incident.
The lawsuit, filed in Nebraska, alleges negligence, breach of contract, unjust enrichment, invasion of privacy, and violations of consumer protection laws against Nelnet, OSLA, and Edfinancial. While the companies deny any wrongdoing, they have chosen to settle to avoid the costs and uncertainties of ongoing litigation.
Claims must be submitted online or by mail by March 5th, with the deadline for opting out or raising objections on the same day. The final approval hearing is scheduled for May 5th. It is essential for affected individuals to take action before the deadlines to participate in the settlement.
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Remember to safeguard your personal data and stay informed about data security measures to protect yourself from potential breaches in the future.
Stay tuned for further developments in this case as it progresses through the legal system.
[Original Source: The Daily Hodl]
