Doxim Settles Data Breach Lawsuit for $5.5 Million

Michigan based software provider Doxim is moving forward with a $5.5 million class action settlement. This follows a serious data breach that exposed sensitive personal information, including Social Security numbers and account details, belonging to credit union customers.

The breach occurred in late 2023 when unauthorized parties gained access to the firm's network. While Doxim has denied any legal liability, the company opted to settle the case to avoid the mounting costs and uncertainty of continued litigation.

US residents who received notice of the breach are eligible to file for compensation. Those with proof of financial loss due to fraud can request up to $5,000, while others may receive an estimated $100 cash payment. The settlement also provides one year of credit monitoring services to affected individuals.

Claimants must submit their forms by October 13 to be considered for the payout. A federal court is scheduled to grant final approval for the deal on October 28. This case serves as a sharp reminder for users to keep a close eye on their personal financial data and credit reports.