Anthem Inc. has agreed to a negotiated settlement valued at $115 million to end class action litigation over a massive data breach.
The settlement funds will be used to provide credit protection and reimbursement for customers and pay attorneys’ fees.
Under the proposed settlement, nearly 80 million victims of the data breach will receive two years of credit monitoring. Customers who have out-of-pocket expenses stemming from the breach will be allowed to obtain reimbursement as will customers who already got their own credit monitoring.
According to attorneys for the class, the settlement also calls for Anthem to guarantee a certain amount of funding for information security and to make certain changes to its data security systems.
The case is In re Anthem Inc. Data Breach Litigation, in the U.S. District Court for the Northern District of California, case number 5:15-md-02617.