Software Provider Doxim to Pay $5.5 Million in Data Breach Deal

Financial services software provider Doxim Inc. will pay $5.5 million to settle allegations it negligently failed to protect the personal information of customers of its credit-union clients that was exposed in a December 2023 data breach, under a proposed deal filed in federal court.

Class members would be eligible for up to $5,000 in reimbursement for documented losses from the breach, or an alternative cash payment of around $100, according to the plaintiffs’ amended motion for preliminary approval filed June 5 in the US District Court for the Eastern District of Michigan. The deal is subject to approval by Judge ...