A healthcare company is preparing to pay $35,000,000 to settle a class action lawsuit over a cybersecurity incident that allegedly exposed patient information.
According to the official settlement website, Laboratory Corporation of America Holdings, also known as Labcorp, has agreed to a proposed settlement tied to the American Medical Collection Agency data breach.
The settlement covers people whose personal information was transmitted by Labcorp to Retrieval-Masters Creditors Bureau, doing business as American Medical Collection Agency, and was contained in computer systems affected by the incident.
The breach allegedly affected AMCA’s computer systems between approximately August 1, 2018 and March 30, 2019.
According to HIPAA Journal, up to 7,700,000 Labcorp patients were potentially impacted by the AMCA breach.
The settlement provides a $35,000,000 fund to pay for out-of-pocket losses, monitoring services, alternative cash payments, notice and administration costs, taxes, service awards, and attorneys’ fees and expenses.
Class members may submit claims for documented out-of-pocket losses of up to $5,000 per person. They may also claim an alternative cash payment estimated at $50.
Settlement class members may also elect to receive two years of CyEx Medical Shield Pro medical and healthcare information monitoring services.
Labcorp denies all claims and denies wrongdoing or liability. The settlement is not an admission that the company violated any laws
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