Student Clearinghouse to Pay $9.95 Million in MOVEit Breach Deal

National Student Clearinghouse will pay $9.95 million to settle a class action alleging it negligently failed to protect the personal information of nearly 1.5 million people that was exposed in a data breach related to Progress Software Corp.'s MOVEit file-transfer system.

The settlement provides for reimbursement to class members of extraordinary losses up to $10,000, ordinary losses up to $2,500, or an alternative cash payment of $100, according to the plaintiffs’ motion for final approval of the deal. Judge Allison D. Burroughs of the US District Court for the District of Massachusetts, who is presiding over multi-district litigation arising ...