EXECUTIVE SUMMARY:
Paying for your mistakes can be painful. And if the settlement for the class-action lawsuit against Anthem goes through–for a data breach suffered two years ago–they might need some serious painkillers.
Pending court approval, the settlement would be $115 million, the largest data breach settlement in history. At issue was the loss of personal information for 78.8 million people back in 2015. Stolen data included names, dates of birth, social security numbers, and health care ID numbers.
The proposed settlement is scheduled to go before the judge on August 17. A motion for preliminary approval of the settlement was filed today by the Plaintiffs.