Netgain Agrees to Proposed $1.9 Million Data Breach Settlement

Netgain Technology LLC would pay $1.9 million to settle negligence allegations arising from a 2020 data breach of its servers, under a proposed deal filed in federal court.

Plaintiffs would be eligible for up to $5,000 in compensation for documented out-of-pocket losses from the breach, or a pro-rata share of the net settlement fund after deduction of attorneys’ fees and costs and the costs of administration, according to a motion for preliminary approval of the settlement filed May 9 in the US District Court for the District of Minnesota. A preliminary approval hearing has been set for May 19.

• The ...