SitusAMC Reaches $5.3 Million Settlement in Data Breach Lawsuit

SitusAMC Holdings Corp. agreed to pay $5.3 million to settle a proposed class action that followed a data breach, according to a motion for preliminary approval.

The settlement provides data breach victims the option of a pro rata cash payment—estimated to be $75—or reimbursement for documented losses, according to the filing in the US District Court for the Southern District of New York. Members of the California subclass can get a statutory $50 payment as well, subject to downward pro-ration based on the number of valid claims made. Judge Lewis J. Liman asked the parties Tuesday to address standing at ...