Pension Specialists Hit With Six Class Actions Over Data Breach

Retirement plan administrator Pension Specialists Ltd. is facing six proposed class actions alleging it negligently failed to protect the personal information of more than 71,000 consumers in a February 2024 data breach.

The plaintiffs alleged in separate lawsuits that Pension Specialists breached its duties under common law, contract law, industry standards, and the Federal Trade Commission Act to implement reasonable and adequate data security measures and provide timely notice of the breach.

The company waited around a year after the incident to inform those affected, according to six complaints filed between Feb. 24 and Feb. 26 in the US District ...