Court Approves $1.9 Million Settlement Over Netgain Data Breach

Netgain Technology LLC’s $1.9 million data breach settlement stemming from a incident in 2020 is sufficiently fair and reasonable for preliminary approval, a federal judge ruled.

The provider of cloud data-hosting services agreed to pay victims up to $5,000 in compensation for documented out-of-pocket losses from the breach, and a share of any remainder of the fund after costs and attorneys’ fees.

• Judge Susan R. Nelson, of the US District Court for the District of Minnesota, scheduled a final approval hearing for October
• Netgain also agreed to implement better data security standards, including multi-factor authentication in hosting environments, geo-blocking, ...